Westrock Coffee (NASDAQ:WEST) Trading Down 5.5% After Analyst Downgrade

Westrock Coffee (NASDAQ:WEST - Get Free Report)'s share price dropped 5.5% during mid-day trading on Friday after Stifel Nicolaus lowered their price target on the stock from $12.00 to $10.00. Stifel Nicolaus currently has a buy rating on the stock. Westrock Coffee traded as low as $5.41 and last traded at $5.42. Approximately 40,401 shares traded hands during trading, a decline of 86% from the average daily volume of 286,850 shares. The stock had previously closed at $5.73.

WEST has been the topic of a number of other research reports. Telsey Advisory Group reissued an "outperform" rating and set a $9.00 price objective on shares of Westrock Coffee in a report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and set a $10.00 price objective on shares of Westrock Coffee in a report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Westrock Coffee presently has a consensus rating of "Buy" and a consensus price target of $10.40.

Insiders Place Their Bets

In related news, COO William A. Ford acquired 15,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $6.45 per share, for a total transaction of $96,750.00. Following the completion of the acquisition, the chief operating officer now directly owns 476,190 shares in the company, valued at approximately $3,071,425.50. This trade represents a 3.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 42.10% of the company's stock.

Institutional Investors Weigh In On Westrock Coffee

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Westrock Coffee during the 4th quarter worth approximately $37,000. KLP Kapitalforvaltning AS acquired a new position in shares of Westrock Coffee during the 4th quarter worth $47,000. Virtu Financial LLC bought a new stake in shares of Westrock Coffee during the 4th quarter worth $83,000. Price T Rowe Associates Inc. MD grew its position in Westrock Coffee by 23.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company's stock valued at $87,000 after acquiring an additional 2,588 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Westrock Coffee in the fourth quarter worth about $95,000. Institutional investors and hedge funds own 45.08% of the company's stock.

Westrock Coffee Stock Down 0.5 %

The firm's fifty day moving average is $6.33 and its 200-day moving average is $6.65. The company has a market capitalization of $535.22 million, a P/E ratio of -6.60 and a beta of 0.47. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.73 and a current ratio of 1.39.

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.