Westrock Coffee Company (NASDAQ:WEST – Get Free Report)’s share price fell 6.5% during trading on Tuesday . The company traded as low as $7.76 and last traded at $7.81. 139,542 shares were traded during mid-day trading, a decline of 71% from the average session volume of 479,121 shares. The stock had previously closed at $8.35.
Analyst Upgrades and Downgrades
A number of brokerages have commented on WEST. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Telsey Advisory Group raised their price objective on Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Benchmark raised their price objective on Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.00.
View Our Latest Stock Analysis on Westrock Coffee
Westrock Coffee Stock Down 5.4%
Westrock Coffee (NASDAQ:WEST – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. As a group, analysts expect that Westrock Coffee Company will post -0.18 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Joe T. Ford bought 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $4.60 per share, with a total value of $253,000.00. Following the completion of the transaction, the director directly owned 533,916 shares in the company, valued at approximately $2,456,013.60. This represents a 11.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 131,500 shares of company stock worth $695,995 over the last 90 days. 27.70% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Group One Trading LLC purchased a new position in shares of Westrock Coffee during the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Westrock Coffee by 199.0% during the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock valued at $36,000 after buying an additional 4,136 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Westrock Coffee by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock valued at $38,000 after buying an additional 3,439 shares during the last quarter. Waterloo Capital L.P. purchased a new position in shares of Westrock Coffee during the fourth quarter valued at approximately $43,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Westrock Coffee during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.
About Westrock Coffee
Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.
Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.
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