Westrock Coffee (NASDAQ:WEST) Stock Price Up 8.2% – Here’s Why

Westrock Coffee Company (NASDAQ:WEST)’s share price rose 8.2% during mid-day trading on Wednesday . The stock traded as high as $8.54 and last traded at $8.6380. Approximately 75,250 shares were traded during trading, a decline of 84% from the average daily volume of 477,702 shares. The stock had previously closed at $7.98.

Analyst Ratings Changes

WEST has been the topic of several analyst reports. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Telsey Advisory Group lifted their price target on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Benchmark raised their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus set a $8.00 price objective on shares of Westrock Coffee in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Westrock Coffee currently has an average rating of “Hold” and a consensus price target of $9.00.

Westrock Coffee Stock Performance

The company has a market capitalization of $919.39 million, a price-to-earnings ratio of -12.65 and a beta of 0.90. The company has a debt-to-equity ratio of 37.87, a quick ratio of 0.46 and a current ratio of 0.97. The company’s fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $5.21.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million during the quarter, compared to analyst estimates of $285.13 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. Equities research analysts predict that Westrock Coffee Company will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joe T. Ford acquired 55,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was bought at an average cost of $4.60 per share, with a total value of $253,000.00. Following the acquisition, the director directly owned 533,916 shares in the company, valued at approximately $2,456,013.60. The trade was a 11.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have acquired 89,500 shares of company stock worth $543,715. 25.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Group One Trading LLC acquired a new position in shares of Westrock Coffee in the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Westrock Coffee by 199.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock valued at $36,000 after buying an additional 4,136 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Westrock Coffee by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock valued at $38,000 after buying an additional 3,439 shares during the period. Waterloo Capital L.P. acquired a new position in shares of Westrock Coffee in the 4th quarter valued at about $43,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Westrock Coffee in the 4th quarter valued at about $47,000. 45.08% of the stock is owned by institutional investors and hedge funds.

About Westrock Coffee

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.