Westrock Coffee (NASDAQ:WEST) Sees Strong Trading Volume – Should You Buy?

Shares of Westrock Coffee (NASDAQ:WEST) saw an uptick in trading volume on Monday . 565,440 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 226,718 shares.The stock last traded at $6.28 and had previously closed at $5.74.

Analyst Ratings Changes

Several research firms recently commented on WEST. Truist Financial began coverage on shares of Westrock Coffee in a research report on Monday, October 7th. They issued a “buy” rating and a $10.00 price objective on the stock. Craig Hallum started coverage on shares of Westrock Coffee in a research note on Monday, September 23rd. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $14.00 price target on shares of Westrock Coffee in a research note on Friday, June 28th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Westrock Coffee currently has an average rating of “Buy” and an average target price of $12.20.

Westrock Coffee Stock Performance

The company has a debt-to-equity ratio of 4.05, a quick ratio of 0.67 and a current ratio of 1.31. The stock’s fifty day moving average price is $7.69 and its 200-day moving average price is $9.31. The company has a market capitalization of $562.03 million, a P/E ratio of -11.20 and a beta of 0.39.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The firm had revenue of $208.39 million during the quarter, compared to the consensus estimate of $214.40 million. Westrock Coffee had a negative net margin of 5.37% and a negative return on equity of 18.20%. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) earnings per share. As a group, research analysts anticipate that Westrock Coffee will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford purchased 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $6.97 per share, with a total value of $34,850.00. Following the acquisition, the director now directly owns 249,445 shares in the company, valued at $1,738,631.65. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Westrock Coffee news, major shareholder Hf Direct Investments Pool, Ll sold 18,572 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $10.05, for a total transaction of $186,648.60. Following the transaction, the insider now owns 12,825,145 shares in the company, valued at $128,892,707.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joe T. Ford bought 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $6.97 per share, for a total transaction of $34,850.00. Following the transaction, the director now owns 249,445 shares in the company, valued at approximately $1,738,631.65. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 11,092 shares of company stock valued at $81,546 and have sold 131,621 shares valued at $1,326,754. Insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WEST. Brown Brothers Harriman & Co. acquired a new position in shares of Westrock Coffee during the 2nd quarter worth approximately $19,199,000. Vanguard Group Inc. grew its position in shares of Westrock Coffee by 23.2% during the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock worth $26,221,000 after purchasing an additional 478,088 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Westrock Coffee during the 2nd quarter worth approximately $443,000. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Westrock Coffee during the 2nd quarter worth approximately $297,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Westrock Coffee by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,210 shares of the company’s stock worth $994,000 after acquiring an additional 23,610 shares in the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

Westrock Coffee Company Profile

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.