Westrock Coffee (NASDAQ:WEST) Short Interest Up 18.1% in March

Westrock Coffee (NASDAQ:WEST - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 6,530,000 shares, a growth of 18.1% from the March 15th total of 5,530,000 shares. Approximately 12.0% of the company's shares are sold short. Based on an average daily trading volume, of 284,500 shares, the short-interest ratio is presently 23.0 days.

Insider Activity

In related news, COO William A. Ford acquired 15,000 shares of Westrock Coffee stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $6.45 per share, with a total value of $96,750.00. Following the transaction, the chief operating officer now owns 476,190 shares in the company, valued at $3,071,425.50. This trade represents a 3.25 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 42.10% of the company's stock.

Institutional Trading of Westrock Coffee

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Westrock Coffee by 2.0% during the third quarter. State Street Corp now owns 649,553 shares of the company's stock valued at $4,222,000 after buying an additional 12,937 shares during the last quarter. Barclays PLC boosted its holdings in shares of Westrock Coffee by 363.9% during the 3rd quarter. Barclays PLC now owns 57,357 shares of the company's stock valued at $373,000 after acquiring an additional 44,993 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Westrock Coffee by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 806,325 shares of the company's stock valued at $5,242,000 after acquiring an additional 43,731 shares during the last quarter. Arvest Bank Trust Division bought a new stake in shares of Westrock Coffee in the third quarter worth approximately $115,000. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Westrock Coffee by 26.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 24,578 shares of the company's stock valued at $159,000 after purchasing an additional 5,200 shares during the last quarter. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WEST shares. Stifel Nicolaus reduced their price target on shares of Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday. Benchmark reaffirmed a "buy" rating and issued a $10.00 price target on shares of Westrock Coffee in a research note on Wednesday, April 16th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $9.00 price objective on shares of Westrock Coffee in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $10.40.

Westrock Coffee Stock Down 3.4 %

Westrock Coffee stock traded down $0.20 during trading hours on Thursday, hitting $5.69. The stock had a trading volume of 115,283 shares, compared to its average volume of 286,647. The stock has a market capitalization of $536.16 million, a P/E ratio of -6.62 and a beta of 0.47. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41. The stock's 50-day moving average price is $6.36 and its 200-day moving average price is $6.64. Westrock Coffee has a 12-month low of $5.28 and a 12-month high of $10.99.

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.