Westrock Coffee (NASDAQ:WEST) Stock Price Down 5.1% - Here's What Happened

Westrock Coffee (NASDAQ:WEST - Get Free Report)'s share price traded down 5.1% during mid-day trading on Wednesday . The stock traded as low as $6.45 and last traded at $6.42. 100,890 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 248,102 shares. The stock had previously closed at $6.76.

Analysts Set New Price Targets

Separately, Telsey Advisory Group dropped their price objective on shares of Westrock Coffee from $14.00 to $10.00 and set an "outperform" rating for the company in a research note on Friday, November 8th.

Westrock Coffee Trading Down 2.3 %

The company has a 50 day moving average of $6.69 and a 200 day moving average of $7.32. The firm has a market cap of $608.47 million, a price-to-earnings ratio of -7.51 and a beta of 0.57. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.

Insider Activity

In other news, Director Kenneth M. Parent purchased 62,735 shares of Westrock Coffee stock in a transaction on Monday, December 2nd. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the transaction, the director now directly owns 112,451 shares in the company, valued at approximately $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 42.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Westrock Coffee

A number of large investors have recently bought and sold shares of the business. Naviter Wealth LLC bought a new stake in shares of Westrock Coffee during the fourth quarter worth $149,000. Raymond James Financial Inc. bought a new stake in Westrock Coffee during the 4th quarter worth about $840,000. Charles Schwab Investment Management Inc. increased its position in Westrock Coffee by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company's stock valued at $1,827,000 after acquiring an additional 2,010 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in Westrock Coffee in the 4th quarter valued at about $96,000. Finally, Savant Capital LLC bought a new position in shares of Westrock Coffee in the fourth quarter worth about $132,000. 45.08% of the stock is currently owned by institutional investors.

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.