Coffee (NASDAQ:JVA) Releases Earnings Results, Beats Expectations By $0.34 EPS

Coffee (NASDAQ:JVA) announced its quarterly earnings data on Friday. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.34, FiscalAI reports. Coffee had a return on equity of 5.41% and a net margin of 1.53%.The firm had revenue of $21.69 million for the quarter, compared to analyst estimates of $23.00 million.

Coffee Trading Up 12.5%

Shares of JVA opened at $3.86 on Friday. Coffee has a 12-month low of $2.93 and a 12-month high of $5.63. The stock has a market cap of $22.04 million, a P/E ratio of 4.60 and a beta of 1.44. The company has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in Coffee in the 4th quarter valued at approximately $42,000. Virtu Financial LLC purchased a new position in Coffee during the third quarter worth $53,000. Jump Financial LLC acquired a new position in shares of Coffee in the second quarter worth $58,000. Acadian Asset Management LLC acquired a new position in shares of Coffee in the first quarter worth $73,000. Finally, Bridgeway Capital Management LLC lifted its position in shares of Coffee by 14.5% in the second quarter. Bridgeway Capital Management LLC now owns 26,758 shares of the company’s stock valued at $116,000 after acquiring an additional 3,389 shares in the last quarter.

Analyst Ratings Changes

JVA has been the subject of several recent analyst reports. Piper Sandler assumed coverage on shares of Coffee in a research note on Monday, June 8th. They issued a “neutral” rating and a $9.00 price objective for the company. DA Davidson set a $10.00 target price on shares of Coffee in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded shares of Coffee from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.50.

About Coffee

Coffee Holding Company, Inc (NASDAQ: JVA) is a specialty coffee roaster and distributor headquartered in Lakewood, New Jersey. The company’s core activities encompass the importation of green coffee beans, artisanal roasting and blending, and the packaging of coffee and tea products for wholesale customers. Through its operations, Coffee Holding Company serves a diverse client base that includes coffeehouses, restaurants, hotels, health care facilities, vending operators and retail chains.

The company’s product offering spans whole?bean and ground coffees, single?serve pods, cold brew formats and bulk tea selections, with both branded and private?label solutions.