Short Interest in Westrock Coffee (NASDAQ:WEST) Drops By 18.9%

Westrock Coffee (NASDAQ:WEST) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 4,880,000 shares, a decline of 18.9% from the September 30th total of 6,020,000 shares. Based on an average trading volume of 364,300 shares, the short-interest ratio is currently 13.4 days.

Wall Street Analysts Forecast Growth

WEST has been the topic of a number of research reports. Truist Financial initiated coverage on Westrock Coffee in a report on Monday, October 7th. They issued a “buy” rating and a $10.00 price objective on the stock. Craig Hallum initiated coverage on shares of Westrock Coffee in a report on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Westrock Coffee presently has an average rating of “Buy” and a consensus target price of $12.20.

Insider Activity

In other news, Director Joe T. Ford acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $6.97 per share, for a total transaction of $34,850.00. Following the completion of the acquisition, the director now owns 249,445 shares in the company, valued at approximately $1,738,631.65. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 11,092 shares of company stock worth $81,546 in the last ninety days. Corporate insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Institutional investors have recently made changes to their positions in the business. Gilliland Jeter Wealth Management LLC boosted its stake in Westrock Coffee by 81.9% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock valued at $30,000 after purchasing an additional 2,047 shares during the period. Blue Trust Inc. lifted its holdings in shares of Westrock Coffee by 637.3% during the third quarter. Blue Trust Inc. now owns 11,126 shares of the company’s stock worth $72,000 after buying an additional 9,617 shares during the last quarter. Patriot Investment Management Group Inc. acquired a new position in shares of Westrock Coffee during the third quarter worth approximately $78,000. Diversified Trust Co boosted its position in shares of Westrock Coffee by 6.0% in the third quarter. Diversified Trust Co now owns 119,406 shares of the company’s stock valued at $776,000 after acquiring an additional 6,756 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Westrock Coffee by 15.9% in the second 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 during the last quarter. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Trading Down 0.4 %

Shares of WEST stock opened at $6.80 on Monday. Westrock Coffee has a 12 month low of $5.28 and a 12 month high of $11.21. The company has a market cap of $600.92 million, a PE ratio of -12.36 and a beta of 0.39. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 4.05. The business’s 50 day moving average is $7.21 and its two-hundred day moving average is $9.08.

Westrock Coffee (NASDAQ:WEST) last posted its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The firm had revenue of $208.39 million during the quarter, compared to analyst estimates of $214.40 million. Westrock Coffee had a negative net margin of 5.37% and a negative return on equity of 18.20%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. Equities analysts predict that Westrock Coffee will post -0.2 EPS for the current year.

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.