Westrock Coffee (NASDAQ:WEST) Sees Significant Increase in Short Interest

Westrock Coffee (NASDAQ:WEST - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 6,530,000 shares, a growth of 18.1% from the March 15th total of 5,530,000 shares. Based on an average trading volume of 284,500 shares, the days-to-cover ratio is currently 23.0 days. Approximately 12.0% of the company's stock are short sold.

Westrock Coffee Stock Performance

Shares of WEST stock traded down $0.36 on Friday, reaching $5.37. The stock had a trading volume of 110,883 shares, compared to its average volume of 287,119. Westrock Coffee has a 12 month low of $5.28 and a 12 month high of $10.99. The firm has a market capitalization of $505.91 million, a price-to-earnings ratio of -6.22 and a beta of 0.47. The firm's 50-day moving average is $6.34 and its two-hundred day moving average is $6.64. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, COO William A. Ford bought 15,000 shares of Westrock Coffee stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the completion of the acquisition, the chief operating officer now owns 476,190 shares of the company's stock, valued at $3,071,425.50. This trade represents a 3.25 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 42.10% of the company's stock.

Hedge Funds Weigh In On Westrock Coffee

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Westrock Coffee during the 4th quarter worth approximately $37,000. KLP Kapitalforvaltning AS bought a new position in Westrock Coffee during the fourth quarter worth $47,000. Virtu Financial LLC bought a new position in Westrock Coffee during the fourth quarter worth $83,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Westrock Coffee by 23.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company's stock valued at $87,000 after purchasing an additional 2,588 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Westrock Coffee in the fourth quarter valued at about $95,000. Institutional investors and hedge funds own 45.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WEST. Stifel Nicolaus reduced their price objective on shares of Westrock Coffee from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday. Telsey Advisory Group reissued an "outperform" rating and set a $9.00 price target on shares of Westrock Coffee in a research report on Wednesday, March 12th. Finally, Benchmark restated a "buy" rating and issued a $10.00 price target on shares of Westrock Coffee in a research note on Wednesday, April 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $10.40.

About Westrock Coffee

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.