Westrock Coffee (NASDAQ:WEST) Trading 3.5% Higher - Here's Why

Westrock Coffee (NASDAQ:WEST - Get Free Report) shares shot up 3.5% during trading on Friday . The stock traded as high as $6.77 and last traded at $6.75. 105,356 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 266,936 shares. The stock had previously closed at $6.52.

Analysts Set New Price Targets

A number of analysts recently weighed in on WEST shares. Benchmark restated a "buy" rating and issued a $10.00 price target on shares of Westrock Coffee in a research note on Friday, March 14th. Telsey Advisory Group restated an "outperform" rating and set a $9.00 target price on shares of Westrock Coffee in a research report on Wednesday, March 12th.

Westrock Coffee Trading Up 1.2 %

The company has a market cap of $673.26 million, a price-to-earnings ratio of -8.31 and a beta of 0.59. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The business's 50-day simple moving average is $6.52 and its 200-day simple moving average is $6.75.

Insider Buying and Selling

In related news, COO William A. Ford purchased 15,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was bought at an average price of $6.45 per share, with a total value of $96,750.00. Following the completion of the transaction, the chief operating officer now owns 476,190 shares of the company's stock, valued at approximately $3,071,425.50. This represents a 3.25 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 42.10% of the company's stock.

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Institutional Trading of Westrock Coffee

A number of large investors have recently made changes to their positions in the stock. Stephens Inc. AR lifted its stake in shares of Westrock Coffee by 54.8% during the fourth quarter. Stephens Inc. AR now owns 236,364 shares of the company's stock valued at $1,517,000 after buying an additional 83,647 shares during the period. Barclays PLC grew its position in shares of Westrock Coffee by 363.9% in the third quarter. Barclays PLC now owns 57,357 shares of the company's stock valued at $373,000 after purchasing an additional 44,993 shares during the period. State Street Corp increased its stake in Westrock Coffee by 2.0% in the third quarter. State Street Corp now owns 649,553 shares of the company's stock valued at $4,222,000 after purchasing an additional 12,937 shares during the last quarter. Principal Street Partners LLC grew its holdings in Westrock Coffee by 100.0% in the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company's stock valued at $2,546,000 after buying an additional 195,800 shares during the period. Finally, Geode Capital Management LLC increased its stake 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. Institutional investors and hedge funds own 45.08% of the company's stock.

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.