Mission Produce (NASDAQ:AVO) Sees Large Volume Increase on Analyst Upgrade

Key Points

• Mission Produce experienced a trading volume spike of 54%, with approximately 513,723 shares traded, pushing the stock price from $12.87 to $13.56.
• Zacks Research downgraded Mission Produce from a "strong-buy" to a "hold" rating, although the stock retains a consensus rating of "Moderate Buy" with a target price of $15.50.
• Institutional investors own 63.57% of Mission Produce's stock, with several large firms increasing their holdings during the recent quarters.

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) saw unusually-high trading volume on Tuesday after Roth Capital raised their price target on the stock from $16.00 to $17.00. Roth Capital currently has a buy rating on the stock. Approximately 513,723 shares traded hands during trading, an increase of 54% from the previous session's volume of 333,041 shares.The stock last traded at $13.56 and had previously closed at $12.87.

Separately, Zacks Research downgraded Mission Produce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Institutional Trading of Mission Produce

Several large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in Mission Produce by 211.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company's stock valued at $54,000 after acquiring an additional 3,158 shares in the last quarter. Man Group plc boosted its position in Mission Produce by 105.5% during the 2nd quarter. Man Group plc now owns 169,505 shares of the company's stock valued at $1,987,000 after acquiring an additional 87,011 shares in the last quarter. Lazard Asset Management LLC boosted its position in Mission Produce by 69.9% during the 2nd quarter. Lazard Asset Management LLC now owns 187,970 shares of the company's stock valued at $2,203,000 after acquiring an additional 77,327 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its position in Mission Produce by 23.1% during the 2nd quarter. Gallagher Fiduciary Advisors LLC now owns 28,332 shares of the company's stock valued at $332,000 after acquiring an additional 5,311 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Mission Produce during the 2nd quarter valued at approximately $302,000. 63.57% of the stock is owned by institutional investors.

Mission Produce Stock Performance

The company has a 50-day simple moving average of $12.34 and a two-hundred day simple moving average of $11.37. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.23 and a current ratio of 2.04. The firm has a market capitalization of $899.70 million, a P/E ratio of 23.59 and a beta of 0.57.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.