Westrock Coffee (NASDAQ:WEST) Stock Price Down 9.7% After Earnings Miss

Westrock Coffee Company (NASDAQ:WEST)’s share price traded down 9.7% on Friday following a dissappointing earnings announcement. The stock traded as low as $9.50 and last traded at $9.3680. 178,135 shares were traded during trading, a decline of 63% from the average daily volume of 487,874 shares. The stock had previously closed at $10.37.

The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Westrock Coffee had a negative net margin of 4.88% and a negative return on equity of 2,145.68%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $303.93 million.

Wall Street Analyst Weigh In

WEST has been the topic of several recent analyst reports. Telsey Advisory Group set a $13.00 price target on Westrock Coffee in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Westrock Coffee in a report on Monday. Benchmark reaffirmed a “buy” rating on shares of Westrock Coffee in a research report on Monday, August 31st. Finally, Stifel Nicolaus set a $9.00 price objective on shares of Westrock Coffee in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Westrock Coffee has an average rating of “Hold” and a consensus target price of $10.67.

Institutional Investors Weigh In On Westrock Coffee

Several institutional investors have recently bought and sold shares of WEST. State of Wyoming purchased a new stake in shares of Westrock Coffee in the third quarter valued at about $138,000. State Street Corp lifted its position in shares of Westrock Coffee by 3.7% during the second quarter. State Street Corp now owns 793,823 shares of the company’s stock valued at $6,438,000 after purchasing an additional 28,318 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Westrock Coffee during the second quarter worth about $88,000. WINTON GROUP Ltd purchased a new position in Westrock Coffee during the second quarter worth about $100,000. Finally, Citadel Advisors LLC grew its position in Westrock Coffee by 19.3% in the 2nd quarter. Citadel Advisors LLC now owns 218,376 shares of the company’s stock worth $1,771,000 after purchasing an additional 35,328 shares in the last quarter. Institutional investors own 45.08% of the company’s stock.

Westrock Coffee Trading Down 9.4%

The stock’s 50-day simple moving average is $8.46 and its 200-day simple moving average is $6.99. The firm has a market capitalization of $917.23 million, a P/E ratio of -14.26 and a beta of 0.84.

About Westrock Coffee

Westrock Coffee Company is a global provider of integrated coffee, tea, flavors, extracts and ready-to-drink beverage solutions. The company sources raw materials from producing regions, then provides processing, roasting, blending, extraction, packaging and distribution services for beverage brands and other commercial customers.

Its products and services support a range of beverage formats, including roasted and ground coffee, single-serve coffee, tea, liquid coffee and tea extracts, ready-to-drink beverages, and customized flavor systems.