Where Food Comes From Inc. (NASDAQ:WFCF) Shares Shorted: Short Interest Up 109.7% in October

Key Points

• Short interest more than doubled in October, rising 109.7% to 21,983 shares as of October 15, though only about 0.9% of WFCF’s shares were sold short.
• Wall Street sentiment remained neutral: Weiss Ratings upgraded the stock’s “hold” rating slightly, while the sole analyst covering it maintained a Hold consensus.
• Where Food Comes From reported quarterly earnings of $0.08 per share and revenue of $6.61 million, beating analyst estimates of $0.05 and $4.90 million, respectively.

Where Food Comes From Inc. (NASDAQ:WFCF - Get Free Report) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 21,983 shares, an increase of 109.7% from the September 30th total of 10,482 shares. Based on an average trading volume of 195,012 shares, the short-interest ratio is currently 0.1 days. Approximately 0.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Where Food Comes From from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, Where Food Comes From presently has an average rating of "Hold".

Where Food Comes From Stock Performance

Shares of WFCF opened at $16.21 on Friday. Where Food Comes From has a 52 week low of $9.15 and a 52 week high of $22.15. The stock has a market capitalization of $80.73 million, a price-to-earnings ratio of 58.68 and a beta of 0.15. The stock has a fifty day moving average of $13.45 and a 200-day moving average of $12.55.

Where Food Comes From (NASDAQ:WFCF - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Where Food Comes From had a return on equity of 15.39% and a net margin of 5.78%. The business had revenue of $6.61 million for the quarter, compared to analyst estimates of $4.90 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Where Food Comes From stock. Cetera Investment Advisers raised its position in shares of Where Food Comes From Inc. (NASDAQ:WFCF - Free Report) by 93.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,470 shares of the company's stock after acquiring an additional 12,282 shares during the quarter. Cetera Investment Advisers owned about 0.50% of Where Food Comes From worth $339,000 as of its most recent SEC filing. 18.84% of the stock is currently owned by hedge funds and other institutional investors.

Where Food Comes From Company Profile

Where Food Comes From, Inc provides verification, certification, and traceability services for the agricultural and food industries. The company helps producers, processors, retailers, and food brands substantiate claims about how products are raised, grown, sourced, and handled throughout the supply chain.

Its services include source and origin verification, sustainability and production-practice audits, animal welfare assessments, organic and non-GMO certification support, and supply-chain data and traceability solutions.

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