Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Expands By 10.1%

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 6,020,000 shares, an increase of 10.1% from the September 15th total of 5,470,000 shares. Based on an average daily volume of 549,200 shares, the days-to-cover ratio is currently 11.0 days. Currently, 15.7% of the company's stock are sold short.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,244 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.01, for a total value of $67,342.44. Following the transaction, the chief operating officer now directly owns 124,605 shares of the company's stock, valued at $3,739,396.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 34.20% of the stock is owned by insiders.

Institutional Trading of Vita Coco

Hedge funds have recently bought and sold shares of the company. AMI Asset Management Corp grew its position in Vita Coco by 43.2% during the first quarter. AMI Asset Management Corp now owns 174,502 shares of the company's stock valued at $4,263,000 after purchasing an additional 52,646 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Vita Coco during the 1st quarter valued at $1,028,000. American Century Companies Inc. grew its holdings in shares of Vita Coco by 42.2% during the 2nd quarter. American Century Companies Inc. now owns 80,129 shares of the company's stock valued at $2,232,000 after acquiring an additional 23,761 shares in the last quarter. Wasatch Advisors LP increased its stake in shares of Vita Coco by 41.8% in the first quarter. Wasatch Advisors LP now owns 398,057 shares of the company's stock worth $9,725,000 after acquiring an additional 117,346 shares during the last quarter. Finally, Pier Capital LLC raised its holdings in shares of Vita Coco by 37.7% during the second quarter. Pier Capital LLC now owns 292,073 shares of the company's stock worth $8,134,000 after acquiring an additional 79,957 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COCO shares. Bank of America raised their price target on shares of Vita Coco from $27.00 to $30.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 10th. Jefferies Financial Group dropped their target price on Vita Coco from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Vita Coco from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. Finally, Piper Sandler cut shares of Vita Coco from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Vita Coco presently has a consensus rating of "Moderate Buy" and an average price target of $30.17.

Vita Coco Price Performance

Shares of COCO traded up $0.61 during trading hours on Tuesday, reaching $29.40. 480,114 shares of the company's stock traded hands, compared to its average volume of 625,014. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 2.24 and a beta of 0.23. The business's fifty day simple moving average is $26.79 and its two-hundred day simple moving average is $26.67. Vita Coco has a twelve month low of $19.41 and a twelve month high of $31.42.

Vita Coco (NASDAQ:COCO - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The firm had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.08 million. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. Vita Coco's revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. On average, equities research analysts expect that Vita Coco will post 1.05 EPS for the current year.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.