Westrock Coffee (NASDAQ:WEST) Shares Gap Up Following Insider Buying Activity

Westrock Coffee (NASDAQ:WEST)’s stock price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $6.92, but opened at $7.53. Westrock Coffee shares last traded at $7.59, with a volume of 68,445 shares traded.

Specifically, Director Kenneth M. Parent acquired 62,735 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the transaction, the director now owns 112,451 shares of the company’s stock, valued at $907,479.57. The trade was a 126.19 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial initiated coverage on shares of Westrock Coffee in a report on Monday, October 7th. They issued a “buy” rating and a $10.00 price target for the company. Craig Hallum started coverage on shares of Westrock Coffee in a report on Monday, September 23rd. They issued a “buy” rating and a $13.00 target price for the company. Finally, Telsey Advisory Group reduced their price target on shares of Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Westrock Coffee presently has an average rating of “Buy” and a consensus target price of $11.40.

Westrock Coffee Stock Performance

The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The stock’s 50 day moving average is $6.94 and its 200 day moving average is $8.40. The stock has a market capitalization of $694.18 million, a price-to-earnings ratio of -8.57 and a beta of 0.48.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WEST. EverSource Wealth Advisors LLC raised its holdings in shares of Westrock Coffee by 69.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock worth $35,000 after acquiring an additional 1,444 shares during the last quarter. Wolverine Asset Management LLC raised its stake in Westrock Coffee by 79.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock valued at $42,000 after purchasing an additional 1,820 shares during the last quarter. Gilliland Jeter Wealth Management LLC lifted its holdings in Westrock Coffee by 81.9% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock valued at $30,000 after purchasing an additional 2,047 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Westrock Coffee by 15.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company’s stock valued at $154,000 after acquiring an additional 2,070 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Westrock Coffee by 1.7% during the 3rd quarter. Stephens Inc. AR now owns 152,717 shares of the company’s stock worth $993,000 after purchasing an additional 2,500 shares during the period. 45.08% of the stock is owned by hedge funds and other institutional investors.

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.