Westrock Coffee (NASDAQ:WEST) Shares Gap Up Following Insider Buying Activity

Shares of Westrock Coffee (NASDAQ:WEST - Get Free Report) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $6.55, but opened at $6.83. Westrock Coffee shares last traded at $6.80, with a volume of 45,419 shares trading hands.

Specifically, COO William A. Ford purchased 15,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $6.45 per share, with a total value of $96,750.00. Following the acquisition, the chief operating officer now owns 476,190 shares in the company, valued at approximately $3,071,425.50. This trade represents a 3.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

WEST has been the subject of a number of recent analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $9.00 price target on shares of Westrock Coffee in a report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and set a $10.00 price target on shares of Westrock Coffee in a report on Friday, March 14th.

Westrock Coffee Stock Performance

The company has a market capitalization of $649.23 million, a price-to-earnings ratio of -8.01 and a beta of 0.59. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.73 and a current ratio of 1.39. The company's fifty day simple moving average is $6.51 and its two-hundred day simple moving average is $6.76.

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Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in Westrock Coffee by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company's stock worth $1,827,000 after acquiring an additional 2,010 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Westrock Coffee by 23.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company's stock worth $87,000 after acquiring an additional 2,588 shares in the last quarter. Barclays PLC boosted its holdings in shares of Westrock Coffee by 6.6% in the 4th quarter. Barclays PLC now owns 61,159 shares of the company's stock valued at $392,000 after buying an additional 3,802 shares during the period. Arvest Bank Trust Division boosted its holdings in shares of Westrock Coffee by 28.4% in the 4th quarter. Arvest Bank Trust Division now owns 22,635 shares of the company's stock valued at $145,000 after buying an additional 5,000 shares during the period. Finally, Townsquare Capital LLC boosted its holdings in shares of Westrock Coffee by 46.6% in the 4th quarter. Townsquare Capital LLC now owns 16,133 shares of the company's stock valued at $104,000 after buying an additional 5,131 shares during the period. 45.08% of the stock is owned by institutional investors and hedge funds.

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.