StockNews.com Initiates Coverage on Coffee (NASDAQ:JVA)

StockNews.com assumed coverage on shares of Coffee (NASDAQ:JVA) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Coffee Trading Up 5.4 %

Shares of NASDAQ JVA opened at $2.15 on Wednesday. Coffee has a 12-month low of $0.67 and a 12-month high of $3.25. The company has a market cap of $12.28 million, a P/E ratio of 30.71 and a beta of 1.31. The stock has a fifty day moving average price of $2.01 and a 200 day moving average price of $1.61.

Institutional Trading of Coffee

An institutional investor recently raised its position in Coffee stock. Renaissance Technologies LLC grew its holdings in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 324,564 shares of the company’s stock after acquiring an additional 8,900 shares during the period. Renaissance Technologies LLC owned about 5.68% of Coffee worth $759,000 as of its most recent SEC filing.

Coffee Company Profile

Coffee Holding Co, Inc engages in manufacturing, roasting, packaging, marketing, and distributing roasted and blended coffees in the United States, Australia, Canada, England, and China. It offers wholesale green coffee products, including unroasted raw beans that are sold to large, medium, and small roasters, as well as coffee shop operators; and roasts, blends, packages, and sells coffee under private labels in cans, brick packages, and instants of various sizes.