Westrock Coffee (NASDAQ:WEST) Trading Down 4.4% - Here's What Happened

Westrock Coffee Company (NASDAQ:WEST - Get Free Report)'s share price dropped 4.4% on Monday . The company traded as low as $5.68 and last traded at $5.69. Approximately 122,954 shares changed hands during trading, a decline of 60% from the average daily volume of 307,474 shares. The stock had previously closed at $5.95.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WEST. Benchmark reaffirmed a "buy" rating and issued a $10.00 target price on shares of Westrock Coffee in a report on Wednesday, April 16th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $9.00 price objective on shares of Westrock Coffee in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Westrock Coffee from a "hold" rating to a "sell" rating in a report on Friday. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.40.

Westrock Coffee Price Performance

The firm has a market cap of $540.39 million, a P/E ratio of -6.27 and a beta of 0.59. The company has a debt-to-equity ratio of 5.69, a current ratio of 1.18 and a quick ratio of 0.57. The stock's 50-day simple moving average is $6.56 and its two-hundred day simple moving average is $6.50.

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

Insider Transactions at Westrock Coffee

In related news, Director Joe T. Ford purchased 70,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $7.47 per share, for a total transaction of $522,900.00. Following the completion of the acquisition, the director now owns 346,445 shares in the company, valued at approximately $2,587,944.15. This trade represents a 25.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have acquired 105,000 shares of company stock worth $782,400. 42.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westrock Coffee

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in shares of Westrock Coffee in the fourth quarter valued at approximately $37,000. KLP Kapitalforvaltning AS purchased a new stake in Westrock Coffee in the fourth quarter worth about $47,000. HHM Wealth Advisors LLC grew its holdings in Westrock Coffee by 130.9% during the 1st quarter. HHM Wealth Advisors LLC now owns 8,080 shares of the company's stock worth $58,000 after acquiring an additional 4,580 shares in the last quarter. State of Wyoming purchased a new position in Westrock Coffee during the 1st quarter valued at about $62,000. Finally, Virtu Financial LLC bought a new stake in shares of Westrock Coffee in the 4th quarter valued at about $83,000. 45.08% of the stock is owned by hedge funds and other 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.

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