Westrock Coffee (NASDAQ:WEST) Trading Up 15.4% - Time to Buy?

Westrock Coffee (NASDAQ:WEST - Get Free Report)'s share price rose 15.4% on Friday . The stock traded as high as $6.59 and last traded at $6.36. Approximately 147,224 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 263,991 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

WEST has been the subject of several research reports. Telsey Advisory Group reissued an "outperform" rating and issued a $9.00 target price on shares of Westrock Coffee in a report on Wednesday, March 12th. Benchmark reissued a "buy" rating and issued a $10.00 target price on shares of Westrock Coffee in a report on Friday.

Westrock Coffee Trading Down 6.0 %

The company has a 50 day simple moving average of $6.48 and a 200 day simple moving average of $6.78. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The stock has a market capitalization of $616.93 million, a PE ratio of -7.62 and a beta of 0.59.

Insider Buying and Selling at Westrock Coffee

In other Westrock Coffee news, COO William A. Ford bought 15,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were bought at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the transaction, the chief operating officer now owns 476,190 shares of the company's stock, valued at approximately $3,071,425.50. This trade represents a 3.25 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 42.10% of the stock is owned by company insiders.

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Hedge Funds Weigh In On Westrock Coffee

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stephens Inc. AR increased its position in Westrock Coffee by 54.8% during the 4th quarter. Stephens Inc. AR now owns 236,364 shares of the company's stock worth $1,517,000 after purchasing an additional 83,647 shares during the period. Barclays PLC grew its holdings in shares of Westrock Coffee by 363.9% in the 3rd quarter. Barclays PLC now owns 57,357 shares of the company's stock worth $373,000 after acquiring an additional 44,993 shares during the period. State Street Corp grew its holdings in shares of Westrock Coffee by 2.0% in the 3rd quarter. State Street Corp now owns 649,553 shares of the company's stock worth $4,222,000 after acquiring an additional 12,937 shares during the period. Principal Street Partners LLC grew its holdings in shares of Westrock Coffee by 100.0% in the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company's stock worth $2,546,000 after acquiring an additional 195,800 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Westrock Coffee by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 806,325 shares of the company's stock worth $5,242,000 after acquiring an additional 43,731 shares during the period. Institutional investors and hedge funds own 45.08% of the company's stock.

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.