Mission Produce (NASDAQ:AVO) Sees Unusually-High Trading Volume

Shares of Mission Produce, Inc. (NASDAQ:AVO) saw unusually-strong trading volume on Tuesday . Approximately 300,553 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 210,385 shares.The stock last traded at $13.14 and had previously closed at $12.99.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Mission Produce in a research report on Tuesday, September 10th. Roth Mkm raised their price objective on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Mission Produce Price Performance

The stock has a 50-day moving average price of $10.82 and a two-hundred day moving average price of $11.16. The company has a current ratio of 2.02, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. The stock has a market cap of $938.14 million, a price-to-earnings ratio of 51.96 and a beta of 0.47.

Insider Buying and Selling at Mission Produce

In other Mission Produce news, Director Luis A. Gonzalez sold 51,615 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.28, for a total transaction of $685,447.20. Following the sale, the director now owns 7,219,614 shares of the company’s stock, valued at approximately $95,876,473.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Mission Produce news, Director Luis A. Gonzalez sold 51,615 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.28, for a total transaction of $685,447.20. Following the completion of the transaction, the director now directly owns 7,219,614 shares of the company’s stock, valued at approximately $95,876,473.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luis A. Gonzalez sold 49,331 shares of Mission Produce stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total transaction of $642,782.93. Following the sale, the director now owns 7,398,902 shares of the company’s stock, valued at $96,407,693.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,905 shares of company stock worth $1,340,697. 41.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AVO. Point72 DIFC Ltd acquired a new position in shares of Mission Produce in the second quarter worth about $53,000. Cubist Systematic Strategies LLC purchased a new position in shares of Mission Produce during the 2nd quarter valued at approximately $108,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mission Produce in the 2nd quarter valued at $73,000. Point72 Asset Management L.P. purchased a new stake in Mission Produce in the 2nd quarter worth $53,000. Finally, Marshall Wace LLP raised its position in Mission Produce by 202.1% during the second quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock worth $2,125,000 after acquiring an additional 143,858 shares during the period. 63.57% of the stock is owned by institutional investors and hedge funds.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.