The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 3,670,000 shares, a decrease of 22.4% from the February 13th total of 4,730,000 shares. Approximately 9.4% of the shares of the company are short sold. Based on an average trading volume of 578,700 shares, the short-interest ratio is currently 6.3 days.

Analyst Ratings Changes

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

Vita Coco Stock Down 0.2 %

Shares of Vita Coco stock traded down $0.06 during trading on Friday, hitting $35.51. 697,142 shares of the stock traded hands, compared to its average volume of 548,199. The firm's fifty day moving average is $36.27 and its 200-day moving average is $33.56. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.25 and a beta of 0.34. Vita Coco has a 52 week low of $23.00 and a 52 week high of $40.32.

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Insiders Place Their Bets

In other news, Director Ira Liran sold 20,235 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $40.07, for a total transaction of $810,816.45. Following the sale, the director now directly owns 814,302 shares in the company, valued at $32,629,081.14. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Michael Kirban sold 6,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $35.00, for a total transaction of $210,000.00. Following the completion of the sale, the chairman now directly owns 1,663,049 shares in the company, valued at approximately $58,206,715. The trade was a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,410 shares of company stock worth $3,017,811 over the last 90 days. Corporate insiders own 34.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. Summit Investment Advisors Inc. boosted its stake in shares of Vita Coco by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company's stock valued at $152,000 after purchasing an additional 347 shares in the last quarter. GAMMA Investing LLC lifted its stake in Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company's stock worth $29,000 after purchasing an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC boosted its position in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 valued at $824,000 after buying an additional 842 shares during the last quarter. Finally, Moran Wealth Management LLC increased its holdings in shares of Vita Coco by 4.8% in the fourth quarter. Moran Wealth Management LLC now owns 19,075 shares of the company's stock worth $704,000 after buying an additional 871 shares during the period. 88.49% of the stock is currently owned by institutional investors.

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.