Westrock Coffee (NASDAQ:WEST) Shares Down 3.7% – Here’s Why

Westrock Coffee (NASDAQ:WEST) shares dropped 3.7% during mid-day trading on Monday . The company traded as low as $5.70 and last traded at $5.71. Approximately 98,312 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 282,838 shares. The stock had previously closed at $5.93.

Wall Street Analyst Weigh In

WEST has been the topic of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $9.00 price objective on shares of Westrock Coffee in a report on Wednesday, March 12th. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Westrock Coffee in a report on Friday, March 14th.

Westrock Coffee Stock Down 0.5 %

The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The firm’s 50 day moving average price is $6.49 and its two-hundred day moving average price is $6.67. The firm has a market cap of $555.95 million, a price-to-earnings ratio of -6.86 and a beta of 0.47.

Insider Buying and Selling at Westrock Coffee

In related news, COO William A. Ford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $6.45 per share, with a total value of $96,750.00. Following the completion of the acquisition, the chief operating officer now directly owns 476,190 shares in the company, valued at $3,071,425.50. This trade represents a 3.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

A number of large investors have recently bought and sold shares of the company. Stephens Inc. AR raised its holdings in Westrock Coffee by 54.8% during the fourth quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock worth $1,517,000 after purchasing an additional 83,647 shares in the last quarter. Barclays PLC boosted its stake in shares of Westrock Coffee by 363.9% in the third quarter. Barclays PLC now owns 57,357 shares of the company’s stock valued at $373,000 after buying an additional 44,993 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Westrock Coffee in the fourth quarter valued at approximately $840,000. State Street Corp grew its holdings in Westrock Coffee by 2.0% during the third quarter. State Street Corp now owns 649,553 shares of the company’s stock worth $4,222,000 after acquiring an additional 12,937 shares during the period. Finally, Geode Capital Management LLC raised its position in Westrock Coffee by 5.7% in the third quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock worth $5,242,000 after acquiring an additional 43,731 shares in the last quarter. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Westrock Coffee Company Profile

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.