Short Interest in Mission Produce, Inc. (NASDAQ:AVO) Increases By 21.2%

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,600,000 shares, an increase of 21.2% from the September 30th total of 1,320,000 shares. Currently, 3.6% of the company's stock are short sold. Based on an average trading volume of 278,300 shares, the short-interest ratio is currently 5.7 days.

Mission Produce Price Performance

Shares of AVO stock traded up $0.20 during mid-day trading on Monday, reaching $11.95. The company's stock had a trading volume of 157,929 shares, compared to its average volume of 222,266. The firm's 50-day moving average is $12.00 and its two-hundred day moving average is $11.35. The company has a market cap of $847.37 million, a P/E ratio of 47.80 and a beta of 0.48. Mission Produce has a 1-year low of $8.19 and a 1-year high of $13.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02.

Mission Produce (NASDAQ:AVO - Get Free Report) last announced its quarterly earnings results on Monday, September 9th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.23. The firm had revenue of $324.00 million during the quarter, compared to analysts' expectations of $229.90 million. Mission Produce had a net margin of 2.06% and a return on equity of 6.69%. On average, research analysts predict that Mission Produce will post 0.39 earnings per share for the current year.

Insider Activity

In other news, Director Luis A. Gonzalez sold 51,615 shares of Mission Produce stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.28, for a total value of $685,447.20. Following the transaction, the director now owns 7,219,614 shares of the company's stock, valued at $95,876,473.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Mission Produce news, Director Luis A. Gonzalez sold 51,615 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.28, for a total transaction of $685,447.20. Following the completion of the sale, the director now directly owns 7,219,614 shares in the company, valued at $95,876,473.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction dated 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 transaction, the director now owns 8,630,002 shares in the company, valued at $114,347,526.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,059 shares of company stock valued at $3,920,360. Insiders own 41.60% of the company's stock.

Institutional Trading of Mission Produce

Institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company's stock valued at $52,000 after buying an additional 3,112 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Mission Produce during the 2nd quarter worth approximately $53,000. Point72 Asset Management L.P. bought a new stake in Mission Produce during the 2nd quarter worth approximately $53,000. nVerses Capital LLC acquired a new stake in Mission Produce during the 2nd quarter valued at $67,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Mission Produce in the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 63.57% of the company's stock.

Analyst Ratings Changes

AVO has been the topic of a number of research reports. Roth Mkm boosted their target price on shares of 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 restated a "buy" rating and set a $15.00 price objective on shares of Mission Produce in a report on Tuesday, September 10th.

About Mission Produce

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.