Coffee Holding Co., Inc. (NASDAQ:JVA) Stock Short Interest Report for October

Coffee Holding Co., Inc. (NASDAQ:JVA) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 26,826 shares, an increase of 98.3% from the October 15th total of 13,526 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 52,716 shares, the days-to-cover ratio is presently 0.5 days.

Coffee Trading Down 1.9%

JVA stock traded down $0.10 during trading on Friday, reaching $5.07. 83,744 shares of the stock were exchanged, compared to its average volume of 54,638. Coffee has a twelve month low of $2.93 and a twelve month high of $5.24. The company has a market capitalization of $28.95 million, a P/E ratio of 6.04 and a beta of 1.42. The stock has a 50 day simple moving average of $4.42 and a 200-day simple moving average of $3.93.

Coffee (NASDAQ:JVA) last posted its quarterly earnings results on Friday, September 11th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.34. Coffee had a net margin of 4.85% and a return on equity of 16.20%. The firm had revenue of $21.69 million during the quarter, compared to analyst estimates of $23.00 million.

Coffee announced that its board has authorized a share repurchase plan on Wednesday, October 7th that authorizes the company to buy back $2.50 million in shares. This buyback authorization authorizes the company to purchase up to 11% of its shares through open market purchases. Share buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Coffee

A hedge fund recently bought a new position in Coffee stock. Empowered Funds LLC purchased a new stake in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,219 shares of the company’s stock, valued at approximately $141,000. Empowered Funds LLC owned about 0.74% of Coffee at the end of the most recent reporting period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. DA Davidson set a $13.00 price objective on Coffee in a research report on Wednesday. Weiss Ratings raised Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen upgraded Coffee from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

Coffee Company Profile

Coffee Holding Company, Inc. imports, roasts, packages and distributes green and roasted coffee. Its products serve wholesale customers, including retailers and food-service businesses, and the company also provides private-label coffee programs. The company offers coffee under brands including Café Caribe, Café Supremo, Don Manuel, Harmony Bay and Premier Roasters. Through its subsidiary Organic Products Trading Company, it also specializes in sourcing organic and fair-trade coffees. Coffee Holding is based in Staten Island, New York, and sources coffee from producing regions around the world.