Westrock Coffee (NASDAQ:WEST) Sees Strong Trading Volume

Westrock Coffee (NASDAQ:WEST) shares saw strong trading volume on Monday . 118,056 shares were traded during trading, a decline of 42% from the previous session’s volume of 204,773 shares.The stock last traded at $6.86 and had previously closed at $6.71.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WEST shares. Craig Hallum started coverage on Westrock Coffee in a research note on Monday. They set a “buy” rating and a $13.00 target price for the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Westrock Coffee in a research note on Friday, June 28th.

Westrock Coffee Price Performance

The business’s 50-day simple moving average is $8.81 and its two-hundred day simple moving average is $9.69. The stock has a market cap of $611.84 million, a price-to-earnings ratio of -10.09 and a beta of 0.41. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.31 and a quick ratio of 0.67.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The firm had revenue of $208.39 million for the quarter, compared to analyst estimates of $214.40 million. Westrock Coffee had a negative net margin of 5.37% and a negative return on equity of 18.20%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) earnings per share. Research analysts expect that Westrock Coffee will post -0.2 earnings per share for the current year.

Insider Activity

In related news, Director Joe T. Ford acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average cost of $6.97 per share, for a total transaction of $34,850.00. Following the completion of the acquisition, the director now directly owns 249,445 shares of the company’s stock, valued at approximately $1,738,631.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Joe T. Ford bought 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $6.97 per share, with a total value of $34,850.00. Following the transaction, the director now owns 249,445 shares of the company’s stock, valued at approximately $1,738,631.65. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $10.03, for a total transaction of $336,927.76. Following the completion of the sale, the insider now directly owns 12,974,408 shares in the company, valued at $130,133,312.24. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 11,092 shares of company stock valued at $81,546 and sold 184,451 shares valued at $1,856,419. Insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors have recently added to or reduced their stakes in WEST. Brown Brothers Harriman & Co. bought a new stake in shares of Westrock Coffee in the 2nd quarter valued at $19,199,000. Vanguard Group Inc. increased its stake in Westrock Coffee by 23.2% during the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock valued at $26,221,000 after purchasing an additional 478,088 shares in the last quarter. Stephens Inc. AR raised its holdings in Westrock Coffee by 197.7% during the fourth quarter. Stephens Inc. AR now owns 138,532 shares of the company’s stock worth $1,414,000 after buying an additional 92,000 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Westrock Coffee in the second quarter valued at $443,000. Finally, Legacy Capital Wealth Partners LLC bought a new stake in shares of Westrock Coffee during the second quarter worth about $297,000. 45.08% of the stock is owned by institutional investors and hedge funds.

About Westrock Coffee

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.