Westrock Coffee (NASDAQ:WEST) Shares Gap Down – What’s Next?

Westrock Coffee Company (NASDAQ:WEST) gapped down before the market opened on Wednesday . The stock had previously closed at $7.21, but opened at $6.82. Westrock Coffee shares last traded at $6.9540, with a volume of 63,812 shares.

Wall Street Analyst Weigh In

WEST has been the subject of several research analyst reports. Telsey Advisory Group upped their price target on shares of Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Stifel Nicolaus set a $8.00 price objective on shares of Westrock Coffee in a research report on Friday, May 8th. Benchmark increased their target price on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Westrock Coffee has a consensus rating of “Hold” and an average target price of $9.00.

Westrock Coffee Stock Down 3.6%

The business’s 50 day simple moving average is $8.00 and its 200 day simple moving average is $5.76. The stock has a market cap of $673.70 million, a price-to-earnings ratio of -9.25 and a beta of 0.90.

Westrock Coffee (NASDAQ:WEST) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. The company had revenue of $308.83 million for the quarter, compared to analyst estimates of $285.12 million. Equities research analysts forecast that Westrock Coffee Company will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other Westrock Coffee news, Director Joe T. Ford bought 15,000 shares of Westrock Coffee stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the purchase, the director owned 273,000 shares of the company’s stock, valued at $2,320,500. The trade was a 5.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 34,500 shares of company stock valued at $290,715 over the last ninety days. Company insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Westrock Coffee by 2.2% during the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company’s stock worth $297,000 after buying an additional 1,477 shares during the last quarter. Red Door Wealth Management LLC raised its holdings in Westrock Coffee by 7.7% in the 1st quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company’s stock valued at $119,000 after acquiring an additional 2,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Westrock Coffee by 10.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock worth $154,000 after acquiring an additional 2,003 shares during the period. MetLife Investment Management LLC increased its stake in shares of Westrock Coffee by 14.9% during the fourth quarter. MetLife Investment Management LLC now owns 20,863 shares of the company’s stock worth $85,000 after purchasing an additional 2,704 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Westrock Coffee by 10.1% during the 3rd quarter. Alliancebernstein L.P. now owns 31,720 shares of the company’s stock worth $154,000 after purchasing an additional 2,900 shares during the last quarter. 45.08% of the stock is owned by institutional investors.

About Westrock Coffee

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.