Westrock Coffee (NASDAQ:WEST) Shares Gap Down – Here’s Why

by · The Markets Daily

Westrock Coffee Company (NASDAQ:WEST – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $7.54, but opened at $7.11. Westrock Coffee shares last traded at $7.6890, with a volume of 21,303 shares trading hands.

Wall Street Analyst Weigh In

WEST has been the subject of several analyst reports. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Benchmark raised their price target on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Wall Street Zen upgraded Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Stifel Nicolaus set a $8.00 price objective on Westrock Coffee in a research note on Friday, May 8th. Finally, Telsey Advisory Group increased their price objective on Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.00.

Read Our Latest Report on WEST

Westrock Coffee Trading Down 1.0%

The stock has a market cap of $723.20 million, a PE ratio of -9.97 and a beta of 0.90. The firm has a fifty day simple moving average of $7.87 and a two-hundred day simple moving average of $5.68.

Westrock Coffee (NASDAQ:WEST – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million during the quarter, compared to analyst estimates of $285.12 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. Equities analysts forecast that Westrock Coffee Company will post -0.18 earnings per share for the current year.

Insider Transactions at Westrock Coffee

In related news, Director Joe T. Ford bought 15,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the director directly owned 273,000 shares in the company, valued at $2,320,500. This trade represents a 5.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased 34,500 shares of company stock worth $290,715 in the last three months. Insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

A number of institutional investors have recently made changes to their positions in the stock. Agman Capital LLC purchased a new stake in shares of Westrock Coffee during the 4th quarter valued at $3,007,000. Millennium Management LLC grew its position in Westrock Coffee by 111.2% in the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock worth $2,753,000 after acquiring an additional 356,118 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Westrock Coffee in the first quarter valued at $1,203,000. CastleKnight Management LP increased its stake in Westrock Coffee by 44.8% in the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after acquiring an additional 178,020 shares during the last quarter. Finally, Piedmont Capital Management LLC NC purchased a new stake in Westrock Coffee during the fourth quarter valued at about $645,000. Institutional investors own 45.08% of the company’s stock.

About Westrock Coffee

(Get Free Report)

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.

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