Mission Produce, Inc. (NASDAQ:AVO) Sees Large Increase in Short Interest

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 1,370,000 shares, a growth of 8.7% from the November 15th total of 1,260,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily volume of 324,300 shares, the short-interest ratio is currently 4.2 days.

Insider Transactions at Mission Produce

In related news, Director Jay A. Pack sold 72,054 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $13.30, for a total value of $958,318.20. Following the completion of the transaction, the director now owns 384,823 shares of the company's stock, valued at approximately $5,118,145.90. This represents a 15.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the sale, the director now owns 8,630,002 shares of the company's stock, valued at $114,347,526.50. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,113 shares of company stock worth $2,592,130 in the last three months. Corporate insiders own 41.60% of the company's stock.

Institutional Trading of Mission Produce

Several hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in shares of Mission Produce during the 2nd quarter valued at about $53,000. Point72 DIFC Ltd purchased a new stake in Mission Produce during the second quarter valued at approximately $53,000. Quantbot Technologies LP purchased a new stake in Mission Produce during the third quarter valued at approximately $76,000. nVerses Capital LLC bought a new stake in shares of Mission Produce in the 2nd quarter valued at approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mission Produce in the 2nd quarter worth approximately $73,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Mission Produce Price Performance

Mission Produce stock traded down $0.07 during midday trading on Friday, reaching $13.16. 151,907 shares of the stock traded hands, compared to its average volume of 223,142. The stock has a market cap of $933.19 million, a P/E ratio of 39.88 and a beta of 0.54. The stock's fifty day moving average is $12.74 and its 200-day moving average is $11.63. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 0.28. Mission Produce has a 12 month low of $8.76 and a 12 month high of $14.17.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Roth Mkm increased their target price on Mission Produce from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Lake Street Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of Mission Produce in a report on Tuesday, September 10th.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.