Coffee Holding Co., Inc. (NASDAQ:JVA) Stock Short Interest Rises 67.6%

Coffee Holding Co., Inc. (NASDAQ:JVA) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 13,526 shares, an increase of 67.6% from the September 30th total of 8,068 shares. Based on an average daily trading volume, of 82,316 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. DA Davidson set a $10.00 target price on shares of Coffee in a report on Wednesday, August 12th. Finally, Wall Street Zen upgraded shares of Coffee to a “buy” rating in a research note on Saturday, October 24th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

Coffee Stock Performance

Shares of NASDAQ JVA opened at $5.03 on Monday. Coffee has a 12 month low of $2.93 and a 12 month high of $5.18. The firm has a market capitalization of $28.72 million, a price-to-earnings ratio of 5.99 and a beta of 1.42. The business has a 50-day moving average of $4.12 and a 200-day moving average of $3.87.

Coffee (NASDAQ:JVA) last announced its earnings results on Friday, September 11th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.34. The business had revenue of $21.69 million for the quarter, compared to the consensus estimate 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 has approved a share buyback program on Wednesday, October 7th that authorizes the company to repurchase $2.50 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 11% of its stock through open market purchases. Share repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Coffee

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

About Coffee

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.