Westrock Coffee (NASDAQ:WEST) Trading Down 3.9% - Here's Why

Westrock Coffee Company (NASDAQ:WEST - Get Free Report) shares were down 3.9% during trading on Wednesday . The stock traded as low as $6.37 and last traded at $6.36. Approximately 104,444 shares changed hands during trading, a decline of 66% from the average daily volume of 305,120 shares. The stock had previously closed at $6.61.

Analysts Set New Price Targets

Several research analysts have recently commented on WEST shares. Stifel Nicolaus dropped their price target on shares of Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Benchmark restated a "buy" rating and set a $10.00 price target on shares of Westrock Coffee in a research note on Wednesday, April 16th. Telsey Advisory Group restated an "outperform" rating and set a $9.00 price target on shares of Westrock Coffee in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Westrock Coffee from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.40.

Westrock Coffee Stock Down 5.5%

The business's 50 day moving average is $6.54 and its 200-day moving average is $6.55. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.57 and a current ratio of 1.18. The firm has a market capitalization of $564.05 million, a price-to-earnings ratio of -6.55 and a beta of 0.59.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.05). Westrock Coffee had a negative net margin of 9.61% and a negative return on equity of 41.92%. The firm had revenue of $213.80 million during the quarter, compared to analyst estimates of $213.85 million. Equities analysts anticipate that Westrock Coffee Company will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford purchased 70,000 shares of Westrock Coffee stock in a transaction on Wednesday, May 14th. The stock was purchased at an average cost of $7.47 per share, with a total value of $522,900.00. Following the acquisition, the director now directly owns 346,445 shares in the company, valued at approximately $2,587,944.15. This trade represents a 25.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 105,000 shares of company stock valued at $782,400 in the last ninety days. Company insiders own 42.10% of the company's stock.

Institutional Trading of Westrock Coffee

A number of hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Westrock Coffee by 3.4% in the 1st quarter. Rhumbline Advisers now owns 45,787 shares of the company's stock valued at $331,000 after purchasing an additional 1,510 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Westrock Coffee by 10.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company's stock worth $154,000 after acquiring an additional 2,003 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Westrock Coffee by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company's stock worth $1,827,000 after acquiring an additional 2,010 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Westrock Coffee by 23.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company's stock worth $87,000 after acquiring an additional 2,588 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Westrock Coffee by 4.4% during the 1st quarter. Swiss National Bank now owns 73,000 shares of the company's stock worth $527,000 after acquiring an additional 3,100 shares during the period. 45.08% of the stock is owned by institutional investors.

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.