Westrock Coffee (NASDAQ:WEST) Shares Cross Below Fifty Day Moving Average - Here's Why

Key Points

• Westrock Coffee shares fell below their 50-day moving average of $8.55, trading as low as $8.35 and last changing hands at $8.40.
• The company’s latest quarterly results fell short of expectations: adjusted earnings were a loss of $0.10 per share versus a forecast loss of $0.08, and revenue was $300.2 million versus estimates of $303.93 million.
• Analyst views are mixed, but the stock carries a consensus Hold rating and an average price target of $10.67; ratings include three Buys, one Hold, and one Sell.

Shares of Westrock Coffee Company (NASDAQ:WEST - Get Free Report) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $8.55 and traded as low as $8.35. Westrock Coffee shares last traded at $8.40, with a volume of 397,868 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WEST shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Westrock Coffee in a research report on Monday, November 2nd. Benchmark reissued a "buy" rating on shares of Westrock Coffee in a report on Monday, August 31st. Telsey Advisory Group boosted their target price on shares of Westrock Coffee from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, November 6th. Finally, Stifel Nicolaus set a $9.00 target price on shares of Westrock Coffee in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.67.

Westrock Coffee Stock Performance

The stock has a fifty day simple moving average of $8.55 and a two-hundred day simple moving average of $7.09. The stock has a market cap of $820.09 million, a price-to-earnings ratio of -15.00 and a beta of 0.84.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.36%. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $303.93 million. Equities analysts expect that Westrock Coffee Company will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEST. Group One Trading LLC acquired a new stake in Westrock Coffee in the second quarter valued at approximately $27,000. Legal & General Group Plc acquired a new position in shares of Westrock Coffee during the second quarter worth $30,000. Quantbot Technologies LP acquired a new position in shares of Westrock Coffee during the second quarter worth $39,000. Summit Asset Management LLC bought a new position in shares of Westrock Coffee in the 2nd quarter valued at $87,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Westrock Coffee in the 2nd quarter valued at $88,000. Institutional investors own 45.08% of the company's stock.

Westrock Coffee Company Profile

Westrock Coffee Company is an integrated coffee and tea business based in Little Rock, Arkansas. It sources and processes coffee and tea and supplies beverages, ingredients, and flavor solutions to consumer brands, retailers, restaurants, and other foodservice customers. The company's offerings include roasted and ground coffee, ready-to-drink beverages, tea, and customized beverage products. Its services span sourcing, product development, manufacturing, and packaging, helping customers bring branded and private-label products to market.

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