Westrock Coffee (NASDAQ:WEST) Stock Price Down 5.7% – Should You Sell?

Westrock Coffee Company (NASDAQ:WEST) traded down 5.7% during mid-day trading on Thursday . The stock traded as low as $7.38 and last traded at $7.4480. 262,833 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 483,459 shares. The stock had previously closed at $7.90.

Analysts Set New Price Targets

WEST has been the subject of several analyst reports. Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Benchmark increased their price target on Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $8.00 price objective on Westrock Coffee in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Telsey Advisory Group raised their target price on shares of Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Westrock Coffee presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Westrock Coffee Stock Performance

The stock has a 50 day simple moving average of $6.40 and a two-hundred day simple moving average of $5.09. The company has a debt-to-equity ratio of 37.87, a current ratio of 0.97 and a quick ratio of 0.46. The company has a market capitalization of $730.48 million, a price-to-earnings ratio of -10.05 and a beta of 0.90.

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

Insider Activity at Westrock Coffee

In other news, Director Joe T. Ford purchased 15,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average price of $8.50 per share, for a total transaction of $127,500.00. Following the acquisition, the director directly owned 273,000 shares in the company, valued at approximately $2,320,500. The trade was a 5.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 134,500 shares of company stock worth $720,115. 25.40% of the stock is owned by insiders.

Institutional Trading of Westrock Coffee

Several large investors have recently bought and sold shares of WEST. NFC Investments LLC raised its stake in shares of Westrock Coffee by 2.0% during the 3rd quarter. NFC Investments LLC now owns 4,089,711 shares of the company’s stock worth $19,876,000 after buying an additional 81,730 shares during the last quarter. Vanguard Group Inc. grew its stake in Westrock Coffee by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,984,114 shares of the company’s stock valued at $14,503,000 after acquiring an additional 14,707 shares during the last quarter. Agman Capital LLC purchased a new position in Westrock Coffee during the 4th quarter valued at about $3,007,000. Millennium Management LLC raised its position in Westrock Coffee by 111.2% during the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock worth $2,753,000 after acquiring an additional 356,118 shares during the last quarter. Finally, CastleKnight Management LP raised its position in Westrock Coffee by 44.8% during the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock worth $2,340,000 after acquiring an additional 178,020 shares during the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

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.