Short Interest in Mission Produce, Inc. (NASDAQ:AVO) Rises By 21.2%

Mission Produce, Inc. (NASDAQ:AVO) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,600,000 shares, an increase of 21.2% from the September 30th total of 1,320,000 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 278,300 shares, the days-to-cover ratio is currently 5.7 days.

Mission Produce Price Performance

Shares of AVO traded down $0.11 during trading hours on Tuesday, reaching $11.84. The stock had a trading volume of 19,712 shares, compared to its average volume of 221,297. The company’s 50-day moving average is $12.00 and its two-hundred day moving average is $11.35. The stock has a market capitalization of $839.57 million, a PE ratio of 47.08 and a beta of 0.48. Mission Produce has a 12 month low of $8.19 and a 12 month high of $13.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02.

Mission Produce (NASDAQ:AVO) last issued its earnings results on Monday, September 9th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.23. Mission Produce had a net margin of 2.06% and a return on equity of 6.69%. The business had revenue of $324.00 million for the quarter, compared to analyst estimates of $229.90 million. Research analysts expect that Mission Produce will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

AVO has been the subject of a number of research reports. Lake Street Capital reissued a “buy” rating and set a $15.00 target price on shares of Mission Produce in a research note on Tuesday, September 10th. Roth Mkm increased their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

Insider Transactions at Mission Produce

In other news, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $13.25, for a total transaction of $1,326,325.00. Following the completion of the sale, the director now owns 8,630,002 shares in the company, valued at $114,347,526.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Mission Produce news, Director Jay A. Pack sold 72,054 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $13.30, for a total transaction of $958,318.20. Following the transaction, the director now owns 384,823 shares in the company, valued at approximately $5,118,145.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the sale, the director now directly owns 8,630,002 shares of the company’s stock, valued at approximately $114,347,526.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 296,059 shares of company stock worth $3,920,360 over the last 90 days. 41.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Mission Produce

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Mission Produce by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,831,250 shares of the company’s stock worth $33,607,000 after buying an additional 29,822 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Mission Produce by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after purchasing an additional 266,489 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Mission Produce by 202.1% during the second quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock valued at $2,125,000 after acquiring an additional 143,858 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Mission Produce by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 161,591 shares of the company’s stock valued at $1,597,000 after purchasing an additional 4,160 shares in the last quarter. Finally, SG Capital Management LLC bought a new stake in Mission Produce during the 1st quarter valued at approximately $1,331,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

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.