Coffee (NASDAQ:JVA) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Coffee Holding Co., Inc. (NASDAQ:JVA)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.00 and traded as high as $2.90. Coffee shares last traded at $2.75, with a volume of 51,022 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Coffee in a research report on Wednesday. They set a “hold” rating on the stock.

Coffee Stock Down 5.2 %

The company’s fifty day moving average price is $2.51 and its 200 day moving average price is $2.00. The company has a market capitalization of $15.70 million, a P/E ratio of 39.29 and a beta of 1.32.

Coffee (NASDAQ:JVA) last posted its quarterly earnings data on Friday, September 13th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $18.81 million during the quarter. Coffee had a net margin of 1.48% and a return on equity of 4.66%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Coffee stock. Renaissance Technologies LLC grew its stake in Coffee Holding Co., Inc. (NASDAQ:JVA) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,564 shares of the company’s stock after buying an additional 8,900 shares during the period. Renaissance Technologies LLC owned 5.68% of Coffee worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

About Coffee

Coffee Holding Co, Inc engages in manufacturing, roasting, packaging, marketing, and distributing roasted and blended coffees in the United States, Australia, Canada, England, and China. It offers wholesale green coffee products, including unroasted raw beans that are sold to large, medium, and small roasters, as well as coffee shop operators; and roasts, blends, packages, and sells coffee under private labels in cans, brick packages, and instants of various sizes.