Westrock Coffee (NASDAQ:WEST) Stock Price Down 4% – Here’s Why

by · The Cerbat Gem

Westrock Coffee (NASDAQ:WEST – Get Free Report)’s share price dropped 4% during trading on Wednesday . The company traded as low as $6.03 and last traded at $6.03. Approximately 130,045 shares changed hands during trading, a decline of 50% from the average daily volume of 261,226 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WEST shares. Telsey Advisory Group dropped their price objective on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Truist Financial began coverage on Westrock Coffee in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Craig Hallum started coverage on shares of Westrock Coffee in a research report on Monday, September 23rd. They issued a “buy” rating and a $13.00 price target on the stock.

Read Our Latest Analysis on Westrock Coffee

Westrock Coffee Trading Up 1.0 %

The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The firm has a market capitalization of $595.28 million, a P/E ratio of -7.35 and a beta of 0.55. The business has a 50 day moving average of $6.91 and a 200-day moving average of $7.71.

Insider Activity

In other news, Director Kenneth M. Parent purchased 62,735 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average price of $8.07 per share, with a total value of $506,271.45. Following the purchase, the director now directly owns 112,451 shares of the company’s stock, valued at $907,479.57. This trade represents a 126.19 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

A number of large investors have recently bought and sold shares of the company. NFC Investments LLC raised its holdings in shares of Westrock Coffee by 17.0% in the third quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock valued at $26,286,000 after purchasing an additional 588,160 shares during the last quarter. Principal Street Partners LLC grew its position in Westrock Coffee by 100.0% in the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after purchasing an additional 195,800 shares in the last quarter. Repertoire Partners LP acquired a new stake in Westrock Coffee in the 3rd quarter valued at $650,000. Quest Partners LLC lifted its position in Westrock Coffee by 32,869.0% during the 3rd quarter. Quest Partners LLC now owns 60,663 shares of the company’s stock worth $394,000 after buying an additional 60,479 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Westrock Coffee by 363.9% during the 3rd quarter. Barclays PLC now owns 57,357 shares of the company’s stock worth $373,000 after buying an additional 44,993 shares during the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

About Westrock Coffee

(Get Free Report)

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.

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