Westrock Coffee (NASDAQ:WEST) Shares Down 8.3% – Should You Sell?

Westrock Coffee Company (NASDAQ:WEST)’s share price dropped 8.3% during trading on Tuesday . The stock traded as low as $5.53 and last traded at $5.4550. Approximately 338,509 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 343,864 shares. The stock had previously closed at $5.95.

Analyst Upgrades and Downgrades

WEST has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westrock Coffee in a research note on Monday. Stifel Nicolaus dropped their price target on Westrock Coffee from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Wall Street Zen upgraded Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Research lowered Westrock Coffee from a “hold” rating to a “strong sell” rating in a research note on Friday, March 20th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $7.00 price target on shares of Westrock Coffee in a research note on Monday, March 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

Westrock Coffee Price Performance

The company has a market capitalization of $517.33 million, a price-to-earnings ratio of -5.62 and a beta of 0.49. The company has a quick ratio of 0.48, a current ratio of 0.96 and a debt-to-equity ratio of 37.87. The company has a 50 day simple moving average of $4.58 and a 200 day simple moving average of $4.48.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The firm had revenue of $339.47 million for the quarter, compared to analyst estimates of $317.40 million. Westrock Coffee had a negative return on equity of 233.53% and a negative net margin of 7.61%. As a group, research analysts predict that Westrock Coffee Company will post -0.16 EPS for the current year.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford bought 55,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was bought at an average price of $4.60 per share, with a total value of $253,000.00. Following the completion of the transaction, the director directly owned 533,916 shares of the company’s stock, valued at approximately $2,456,013.60. This represents a 11.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Westrock Coffee

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new stake in shares of Westrock Coffee in the fourth quarter worth about $57,000. EverSource Wealth Advisors LLC boosted its position in shares of Westrock Coffee by 199.0% in the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after buying an additional 4,136 shares during the period. Agman Capital LLC purchased a new stake in shares of Westrock Coffee in the fourth quarter worth about $3,007,000. Horrell Capital Management Inc. boosted its position in shares of Westrock Coffee by 43.0% in the fourth quarter. Horrell Capital Management Inc. now owns 163,330 shares of the company’s stock worth $665,000 after buying an additional 49,148 shares during the period. Finally, Modera Wealth Management LLC purchased a new stake in shares of Westrock Coffee in the fourth quarter worth about $102,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

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.