Westrock Coffee (NASDAQ:WEST) Short Interest Down 18.9% in October

Westrock Coffee (NASDAQ:WEST - Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 4,880,000 shares, a drop of 18.9% from the September 30th total of 6,020,000 shares. Based on an average trading volume of 364,300 shares, the days-to-cover ratio is presently 13.4 days.

Westrock Coffee Stock Up 2.6 %

NASDAQ:WEST traded up $0.18 during midday trading on Monday, reaching $6.98. 330,397 shares of the stock traded hands, compared to its average volume of 234,838. The stock has a market capitalization of $616.82 million, a PE ratio of -12.73 and a beta of 0.39. Westrock Coffee has a 12-month low of $5.28 and a 12-month high of $11.21. The company has a debt-to-equity ratio of 4.05, a quick ratio of 0.67 and a current ratio of 1.31. The business has a 50-day moving average of $7.21 and a two-hundred day moving average of $9.07.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.16). Westrock Coffee had a negative return on equity of 18.20% and a negative net margin of 5.37%. The business had revenue of $208.39 million during the quarter, compared to analyst estimates of $214.40 million. During the same period in the previous year, the business earned ($0.21) EPS. The firm's revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities analysts forecast that Westrock Coffee will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Westrock Coffee

In other news, Director Joe T. Ford bought 5,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $6.97 per share, with a total value of $34,850.00. Following the transaction, the director now directly owns 249,445 shares in the company, valued at approximately $1,738,631.65. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 11,092 shares of company stock valued at $81,546. 42.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westrock Coffee

A number of large investors have recently modified their holdings of WEST. EverSource Wealth Advisors LLC grew its position in Westrock Coffee by 69.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company's stock worth $35,000 after purchasing an additional 1,444 shares during the last quarter. ProShare Advisors LLC purchased a new stake in shares of Westrock Coffee during the second quarter valued at $39,000. Hexagon Capital Partners LLC acquired a new position in shares of Westrock Coffee in the 1st quarter valued at $41,000. Wolverine Asset Management LLC raised its stake in Westrock Coffee by 79.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company's stock worth $42,000 after acquiring an additional 1,820 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC lifted its position in Westrock Coffee by 81.9% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company's stock worth $30,000 after acquiring an additional 2,047 shares during the period. Hedge funds and other institutional investors own 45.08% of the company's stock.

Wall Street Analysts Forecast Growth

WEST has been the topic of a number of recent research reports. Truist Financial began coverage on shares of Westrock Coffee in a research note on Monday, October 7th. They set a "buy" rating and a $10.00 price objective on the stock. Craig Hallum initiated coverage on Westrock Coffee in a research report on Monday, September 23rd. They issued a "buy" rating and a $13.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $12.20.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.