StockNews.com Initiates Coverage on Coffee (NASDAQ:JVA)

StockNews.com began coverage on shares of Coffee (NASDAQ:JVA) in a research note released on Monday. The brokerage issued a hold rating on the stock.

Coffee Stock Up 6.9 %

Shares of Coffee stock opened at $3.63 on Monday. Coffee has a 12 month low of $0.78 and a 12 month high of $3.88. The firm’s fifty day simple moving average is $3.17 and its 200-day simple moving average is $2.35.

Coffee (NASDAQ:JVA) last announced its quarterly earnings data on Friday, September 13th. The company reported $0.11 earnings per share for the quarter. The firm had revenue of $18.81 million for the quarter. Coffee had a return on equity of 4.66% and a net margin of 1.48%.

Hedge Funds Weigh In On Coffee

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in shares of Coffee by 2.8% in the 2nd quarter. Renaissance Technologies LLC now owns 324,564 shares of the company’s stock worth $759,000 after buying an additional 8,900 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Coffee during the third quarter valued at about $34,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Coffee in the 3rd quarter worth approximately $32,000.

About Coffee

Coffee Holding Co, Inc engages in manufacturing, roasting, packaging, marketing, and distributing roasted and blended coffees in the United States, Australia, Canada, England, and China. It offers wholesale green coffee products, including unroasted raw beans that are sold to large, medium, and small roasters, as well as coffee shop operators; and roasts, blends, packages, and sells coffee under private labels in cans, brick packages, and instants of various sizes.