Westrock Coffee (NASDAQ:WEST) Shares Up 8.2% – Here’s Why

Westrock Coffee Company (NASDAQ:WEST)’s share price rose 8.2% during mid-day trading on Wednesday . The company traded as high as $8.54 and last traded at $8.6380. Approximately 75,250 shares traded hands during trading, a decline of 84% from the average daily volume of 477,702 shares. The stock had previously closed at $7.98.

Wall Street Analyst Weigh In

A number of research firms have commented on WEST. Weiss Ratings upgraded shares of Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research upgraded shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Telsey Advisory Group boosted their price target on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Benchmark boosted their price target on shares of Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Westrock Coffee currently has an average rating of “Hold” and a consensus price target of $9.00.

Westrock Coffee Price Performance

The business’s fifty day moving average is $6.55 and its 200 day moving average is $5.14. The firm has a market capitalization of $861.65 million, a P/E ratio of -11.86 and a beta of 0.90. The company has a current ratio of 0.97, a quick ratio of 0.46 and a debt-to-equity ratio of 37.87.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%.The firm had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. As a group, analysts forecast that Westrock Coffee Company will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joe T. Ford acquired 55,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $4.60 per share, for a total transaction of $253,000.00. Following the transaction, the director owned 533,916 shares in the company, valued at approximately $2,456,013.60. This trade represents a 11.48% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have purchased 134,500 shares of company stock worth $720,115. Insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEST. Agman Capital LLC purchased a new position in Westrock Coffee during the 4th quarter worth approximately $3,007,000. Millennium Management LLC increased its stake in Westrock Coffee by 111.2% in the 4th quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock valued at $2,753,000 after buying an additional 356,118 shares during the period. Lee Danner & Bass Inc. acquired a new position in Westrock Coffee in the 1st quarter valued at approximately $1,203,000. CastleKnight Management LP increased its stake in Westrock Coffee by 44.8% in the 4th quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after buying an additional 178,020 shares during the period. Finally, Piedmont Capital Management LLC NC acquired a new position in Westrock Coffee in the 4th quarter valued at approximately $645,000. 45.08% of the stock is currently owned by hedge funds and other 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.