Westrock Coffee (NASDAQ:WEST) Stock Price Down 5.3% - What's Next?

Shares of Westrock Coffee (NASDAQ:WEST - Get Free Report) traded down 5.3% during trading on Monday . The company traded as low as $6.24 and last traded at $6.24. 152,779 shares traded hands during trading, a decline of 32% from the average session volume of 225,226 shares. The stock had previously closed at $6.59.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WEST shares. Telsey Advisory Group dropped their target price on shares of Westrock Coffee from $14.00 to $10.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Craig Hallum began coverage on shares of Westrock Coffee in a research note on Monday, September 23rd. They set a "buy" rating and a $13.00 target price on the stock. Finally, Truist Financial initiated coverage on Westrock Coffee in a research report on Monday, October 7th. They issued a "buy" rating and a $10.00 target price for the company.

Westrock Coffee Stock Performance

The firm's fifty day moving average is $7.04 and its 200 day moving average is $7.92. The firm has a market capitalization of $570.78 million, a price-to-earnings ratio of -7.05 and a beta of 0.55. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73.

Insider Activity

In other news, Director Kenneth M. Parent purchased 62,735 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average price of $8.07 per share, with a total value of $506,271.45. Following the purchase, the director now owns 112,451 shares in the company, valued at $907,479.57. This represents a 126.19 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 42.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westrock Coffee

A number of institutional investors have recently added to or reduced their stakes in WEST. EverSource Wealth Advisors LLC raised its holdings in shares of Westrock Coffee by 69.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company's stock valued at $35,000 after purchasing an additional 1,444 shares in the last quarter. Gilliland Jeter Wealth Management LLC lifted its position in shares of Westrock Coffee by 81.9% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company's stock worth $30,000 after buying an additional 2,047 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Westrock Coffee by 15.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company's stock worth $154,000 after acquiring an additional 2,070 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of Westrock Coffee by 1.7% during the 3rd quarter. Stephens Inc. AR now owns 152,717 shares of the company's stock valued at $993,000 after acquiring an additional 2,500 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Westrock Coffee in the 2nd quarter valued at approximately $39,000. 45.08% of the stock is currently owned by institutional investors and hedge funds.

About Westrock Coffee

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.