Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Declines By 11.9%

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 4,730,000 shares, a drop of 11.9% from the January 31st total of 5,370,000 shares. Based on an average daily volume of 529,900 shares, the days-to-cover ratio is currently 8.9 days. Approximately 12.2% of the company's shares are sold short.

Vita Coco Stock Up 5.3 %

COCO traded up $1.70 during trading on Friday, hitting $33.86. 676,283 shares of the company's stock were exchanged, compared to its average volume of 552,738. The stock has a market cap of $1.93 billion, a P/E ratio of 34.20, a PEG ratio of 2.25 and a beta of 0.34. The business's 50 day moving average is $36.30 and its two-hundred day moving average is $33.02. Vita Coco has a fifty-two week low of $23.00 and a fifty-two week high of $40.32.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Stephens lowered shares of Vita Coco from an "overweight" rating to an "equal weight" rating and set a $36.00 target price on the stock. in a report on Monday, January 27th. Finally, Wells Fargo & Company decreased their price target on Vita Coco from $40.00 to $39.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Vita Coco has a consensus rating of "Moderate Buy" and an average target price of $35.14.

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Insider Transactions at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 700 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the sale, the chief operating officer now owns 104,108 shares in the company, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $36.53, for a total value of $182,650.00. Following the completion of the sale, the chief executive officer now directly owns 357,152 shares of the company's stock, valued at approximately $13,046,762.56. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,632 shares of company stock worth $3,605,468. Insiders own 34.20% of the company's stock.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors and hedge funds have recently made changes to their positions in COCO. Summit Investment Advisors Inc. increased its holdings in Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock worth $152,000 after purchasing an additional 347 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock valued at $29,000 after buying an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC boosted its position in shares of Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company's stock valued at $47,000 after buying an additional 613 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Vita Coco by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company's stock worth $824,000 after buying an additional 842 shares in the last quarter. Finally, Moran Wealth Management LLC raised its position in Vita Coco by 4.8% in the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock valued at $704,000 after buying an additional 871 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

About Vita Coco

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.