Westrock Coffee (NASDAQ:WEST) Shares Down 5.1% – Here’s What Happened

Westrock Coffee (NASDAQ:WEST) shares were down 5.1% during trading on Wednesday . The company traded as low as $6.45 and last traded at $6.42. Approximately 100,890 shares changed hands during trading, a decline of 59% from the average daily volume of 248,102 shares. The stock had previously closed at $6.76.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group decreased their target price on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, November 8th.

Westrock Coffee Stock Down 2.3 %

The firm’s 50 day moving average price is $6.72 and its two-hundred day moving average price is $7.36. The firm has a market capitalization of $608.47 million, a PE ratio of -7.51 and a beta of 0.57. The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, Director Kenneth M. Parent acquired 62,735 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was acquired at an average price of $8.07 per share, with a total value of $506,271.45. Following the transaction, the director now directly owns 112,451 shares in the company, valued at approximately $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NFC Investments LLC raised its position in shares of Westrock Coffee by 17.0% during the 3rd quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock worth $26,286,000 after purchasing an additional 588,160 shares during the period. Geode Capital Management LLC increased its position in Westrock Coffee by 5.7% in the third quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock worth $5,242,000 after buying an additional 43,731 shares during the period. State Street Corp lifted its stake in Westrock Coffee by 2.0% in the third quarter. State Street Corp now owns 649,553 shares of the company’s stock valued at $4,222,000 after buying an additional 12,937 shares during the last quarter. Principal Street Partners LLC boosted its holdings in shares of Westrock Coffee by 100.0% during the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after acquiring an additional 195,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Westrock Coffee by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company’s stock worth $1,827,000 after acquiring an additional 2,010 shares during the period. 45.08% of the stock is currently owned by institutional investors and hedge funds.

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.