Coffee Holding Co., Inc. (NASDAQ:JVA) Sees Large Drop in Short Interest

Coffee Holding Co., Inc. (NASDAQ:JVA) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 19,731 shares, a decrease of 53.1% from the August 15th total of 42,046 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily volume of 41,767 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Coffee

A hedge fund recently bought a new position in Coffee stock. Empowered Funds LLC acquired a new position in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 42,219 shares of the company’s stock, valued at approximately $141,000. Empowered Funds LLC owned approximately 0.74% of Coffee at the end of the most recent quarter.

Coffee Trading Up 1.5%

JVA stock traded up $0.06 during trading on Wednesday, hitting $4.14. The company had a trading volume of 41,876 shares, compared to its average volume of 80,496. The company has a fifty day moving average price of $3.51 and a two-hundred day moving average price of $3.85. Coffee has a fifty-two week low of $2.93 and a fifty-two week high of $5.63. The company has a market cap of $23.64 million, a P/E ratio of 4.93 and a beta of 1.44.

Coffee (NASDAQ:JVA) last released its quarterly earnings data on Friday, September 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.34. Coffee had a return on equity of 16.20% and a net margin of 4.85%.The firm had revenue of $21.69 million during the quarter, compared to analyst estimates of $23.00 million.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JVA. DA Davidson set a $10.00 price target on shares of Coffee in a research note on Wednesday, August 12th. Piper Sandler started coverage on shares of Coffee in a report on Monday, June 8th. They set a “neutral” rating and a $9.00 price objective for the company. Finally, Weiss Ratings lowered shares of Coffee from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Coffee presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Coffee Company Profile

Coffee Holding Company, Inc (NASDAQ: JVA) is a specialty coffee roaster and distributor headquartered in Lakewood, New Jersey. The company’s core activities encompass the importation of green coffee beans, artisanal roasting and blending, and the packaging of coffee and tea products for wholesale customers. Through its operations, Coffee Holding Company serves a diverse client base that includes coffeehouses, restaurants, hotels, health care facilities, vending operators and retail chains.

The company’s product offering spans whole?bean and ground coffees, single?serve pods, cold brew formats and bulk tea selections, with both branded and private?label solutions.