Westrock Coffee (NASDAQ:WEST) Shares Up 15.4% – Here’s What Happened

Westrock Coffee (NASDAQ:WEST) traded up 15.4% on Friday . The stock traded as high as $6.59 and last traded at $6.36. 147,224 shares changed hands during trading, a decline of 44% from the average session volume of 263,991 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

Several research analysts recently commented on WEST shares. Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Westrock Coffee in a report on Friday. Telsey Advisory Group reiterated an “outperform” rating and set a $9.00 price objective on shares of Westrock Coffee in a research report on Wednesday.

Westrock Coffee Stock Performance

The company’s 50 day moving average is $6.46 and its 200-day moving average is $6.82. The company has a market capitalization of $648.01 million, a P/E ratio of -8.00 and a beta of 0.59. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.

Institutional Trading of Westrock Coffee

Institutional investors have recently made changes to their positions in the stock. NFC Investments LLC boosted its stake in shares of Westrock Coffee by 17.0% during the 3rd quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock worth $26,286,000 after acquiring an additional 588,160 shares during the last quarter. Millennium Management LLC lifted its holdings in Westrock Coffee by 198.9% in the 4th quarter. Millennium Management LLC now owns 589,450 shares of the company’s stock worth $3,784,000 after purchasing an additional 392,214 shares in the last quarter. Vanguard Group Inc. boosted its stake in Westrock Coffee by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 2,812,993 shares of the company’s stock worth $18,059,000 after purchasing an additional 199,939 shares during the period. Principal Street Partners LLC grew its holdings in Westrock Coffee by 100.0% during the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after buying an additional 195,800 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Westrock Coffee during the fourth quarter valued at approximately $840,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

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.