The Vita Coco Company, Inc. (NASDAQ:COCO) Sees Large Growth in Short Interest

The Vita Coco Company, Inc. (NASDAQ:COCO - Get Free Report) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 6,160,000 shares, a growth of 9.2% from the October 15th total of 5,640,000 shares. Currently, 16.1% of the company's shares are short sold. Based on an average trading volume of 487,800 shares, the days-to-cover ratio is presently 12.6 days.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 2,244 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the sale, the chief operating officer now directly owns 124,605 shares in the company, valued at $3,739,396.05. This represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Martin F. Roper sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $35.35, for a total value of $176,750.00. Following the sale, the chief executive officer now owns 447,452 shares of the company's stock, valued at $15,817,428.20. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,425 shares of company stock worth $1,494,523 in the last ninety days. 34.20% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently modified their holdings of COCO. nVerses Capital LLC boosted its stake in shares of Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company's stock worth $72,000 after buying an additional 1,900 shares during the last quarter. CWM LLC boosted its stake in shares of Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company's stock worth $76,000 after buying an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Vita Coco by 32.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company's stock worth $92,000 after buying an additional 919 shares during the last quarter. Comerica Bank boosted its stake in shares of Vita Coco by 1,155.7% in the 1st quarter. Comerica Bank now owns 3,993 shares of the company's stock worth $98,000 after buying an additional 3,675 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company's stock worth $99,000 after buying an additional 3,473 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COCO shares. Jefferies Financial Group dropped their price objective on Vita Coco from $35.00 to $31.00 and set a "buy" rating for the company in a report on Wednesday, July 24th. Craig Hallum increased their price objective on Vita Coco from $33.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

Vita Coco Price Performance

COCO stock traded up $0.17 on Friday, reaching $34.02. 270,830 shares of the company traded hands, compared to its average volume of 633,478. Vita Coco has a one year low of $19.41 and a one year high of $36.41. The company has a market cap of $1.93 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.22. The firm has a fifty day simple moving average of $29.90 and a 200-day simple moving average of $27.89.

Vita Coco (NASDAQ:COCO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The company had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. During the same quarter last year, the company earned $0.26 EPS. The firm's revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Vita Coco will post 1.07 EPS for the current year.

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.