Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Drops By 11.9%

The Vita Coco Company, Inc. (NASDAQ:COCO) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 4,730,000 shares, a decrease of 11.9% from the January 31st total of 5,370,000 shares. Based on an average daily volume of 529,900 shares, the days-to-cover ratio is currently 8.9 days. Approximately 12.2% of the shares of the stock are sold short.

Vita Coco Trading Up 5.3 %

Shares of COCO stock opened at $33.86 on Friday. The business’s 50-day moving average price is $36.30 and its 200-day moving average price is $32.96. Vita Coco has a 12 month low of $23.00 and a 12 month high of $40.32. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 2.25 and a beta of 0.34.

Insider Transactions at Vita Coco

In other news, COO Jonathan Burth sold 10,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total transaction of $326,900.00. Following the sale, the chief operating officer now directly owns 94,108 shares of the company’s stock, valued at approximately $3,076,390.52. This represents a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Corey Baker sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $37.28, for a total value of $74,560.00. Following the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,653,218.88. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,632 shares of company stock valued at $3,605,468. 34.20% of the stock is owned by corporate insiders.

Institutional Trading of Vita Coco

A number of hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP boosted its stake in shares of Vita Coco by 17.8% during the fourth quarter. Wasatch Advisors LP now owns 2,828,868 shares of the company’s stock valued at $104,414,000 after purchasing an additional 427,871 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Vita Coco by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,589,134 shares of the company’s stock valued at $95,565,000 after purchasing an additional 11,712 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Vita Coco by 14.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,502,587 shares of the company’s stock valued at $55,460,000 after purchasing an additional 185,692 shares in the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Vita Coco by 15.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,421,999 shares of the company’s stock worth $52,486,000 after acquiring an additional 193,420 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Vita Coco by 6.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,130,117 shares of the company’s stock worth $41,713,000 after acquiring an additional 64,011 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COCO has been the topic of a number of recent analyst reports. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research report on Monday, January 27th. Bank of America lifted their target price on Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their target price on Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.14.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.