Coffee (NASDAQ:JVA) Share Price Breaks Above 200 Day Moving Average – What’s Next?

Coffee Holding Co., Inc. (NASDAQ:JVA) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.94 and traded as high as $4.83. Coffee shares last traded at $4.74, with a volume of 82,643 shares traded.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings raised Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. DA Davidson set a $10.00 price target on Coffee in a report on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.50.

Coffee Stock Up 0.2%

The stock has a market cap of $27.12 million, a P/E ratio of 5.65 and a beta of 1.41. The company’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.94.

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

Coffee declared that its Board of Directors has approved a stock buyback program on Wednesday, October 7th that authorizes the company to buy back $2.50 million in shares. This buyback authorization authorizes the company to repurchase up to 11% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Coffee

An institutional investor recently bought a new position in Coffee stock. Empowered Funds LLC acquired a new position in Coffee Holding Co., Inc. (NASDAQ:JVA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 42,219 shares of the company’s stock, valued at approximately $141,000. Empowered Funds LLC owned 0.74% of Coffee at the end of the most recent reporting period.

About Coffee

Coffee Holding Co, Inc (NASDAQ:JVA) is a specialty coffee processor, roaster, packager and distributor headquartered in Staten Island, New York. The company supplies coffee products to retail, foodservice and private-label customers, offering roasted whole-bean and ground coffee as well as other coffee formats.

The company markets products under its own brands and also produces coffee for third-party customers. Its activities include sourcing green coffee beans, roasting and blending coffee, packaging finished products, and distributing them through grocery, foodservice and wholesale channels.

Coffee Holding was founded in 1975 and has expanded its business through branded products, private-label production and acquisitions.