The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,670,000 shares, a decrease of 22.4% from the February 13th total of 4,730,000 shares. Based on an average trading volume of 578,700 shares, the short-interest ratio is currently 6.3 days. Currently, 9.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

COCO has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group raised their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research note on Monday, January 27th. Finally, Bank of America raised their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Insider Transactions at Vita Coco

In related news, Chairman Michael Kirban sold 20,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $35.06, for a total value of $701,200.00. Following the sale, the chairman now owns 1,689,049 shares of the company’s stock, valued at $59,218,057.94. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the sale, the director now directly owns 853,729 shares in the company, valued at approximately $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,410 shares of company stock worth $3,875,211. Insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Vita Coco by 84.9% in the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 360 shares during the period. Coppell Advisory Solutions LLC boosted its holdings in shares of Vita Coco by 91.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Vita Coco in the fourth quarter worth about $52,000. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco in the fourth quarter worth about $66,000. Finally, Quest Partners LLC boosted its holdings in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after buying an additional 3,473 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Vita Coco Price Performance

Shares of COCO traded down $0.64 during mid-day trading on Tuesday, hitting $34.62. The company’s stock had a trading volume of 327,900 shares, compared to its average volume of 549,975. Vita Coco has a fifty-two week low of $23.00 and a fifty-two week high of $40.32. The firm has a 50-day moving average price of $36.22 and a 200 day moving average price of $33.54. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 34.97, a PEG ratio of 2.25 and a beta of 0.34.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.