Westrock Coffee (NASDAQ:WEST) Trading Up 5.1% – Here’s Why

Westrock Coffee (NASDAQ:WEST) was up 5.1% on Wednesday . The stock traded as high as $6.00 and last traded at $5.99. Approximately 249,162 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 222,525 shares. The stock had previously closed at $5.70.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Craig Hallum initiated coverage on shares of Westrock Coffee in a research report on Monday, September 23rd. They set a “buy” rating and a $13.00 target price on the stock. Truist Financial started coverage on shares of Westrock Coffee in a research note on Monday. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $14.00 target price on shares of Westrock Coffee in a research report on Friday, June 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.20.

Westrock Coffee Price Performance

The company has a debt-to-equity ratio of 4.05, a quick ratio of 0.67 and a current ratio of 1.31. The stock’s 50 day simple moving average is $7.93 and its two-hundred day simple moving average is $9.41. The firm has a market capitalization of $510.60 million, a PE ratio of -8.20 and a beta of 0.39.

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

Insiders Place Their Bets

In related news, CFO Thomas Christopher Pledger sold 6,600 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $10.00, for a total value of $66,000.00. Following the sale, the chief financial officer now owns 466,673 shares of the company’s stock, valued at approximately $4,666,730. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Hf Direct Investments Pool, Ll sold 11,901 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $10.03, for a total value of $119,367.03. Following the sale, the insider now owns 12,943,758 shares of the company’s stock, valued at approximately $129,825,892.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Christopher Pledger sold 6,600 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $10.00, for a total transaction of $66,000.00. Following the completion of the transaction, the chief financial officer now owns 466,673 shares of the company’s stock, valued at $4,666,730. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 11,092 shares of company stock worth $81,546 and have sold 150,859 shares worth $1,519,491. Insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WEST. EverSource Wealth Advisors LLC increased its position in shares of Westrock Coffee by 69.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock worth $35,000 after purchasing an additional 1,444 shares in the last quarter. ProShare Advisors LLC acquired a new position in Westrock Coffee in the 2nd quarter worth $39,000. Hexagon Capital Partners LLC acquired a new position in Westrock Coffee during the first quarter worth $41,000. Wolverine Asset Management LLC boosted its stake in shares of Westrock Coffee by 79.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock worth $42,000 after buying an additional 1,820 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Westrock Coffee during the first quarter valued at approximately $117,000. 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.