Westrock Coffee (NASDAQ:WEST) Shares Gap Up to $8.51

Westrock Coffee (NASDAQ:WEST)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $8.51, but opened at $9.43. Westrock Coffee shares last traded at $9.10, with a volume of 420,673 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on WEST shares. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Westrock Coffee in a report on Monday, May 13th. Telsey Advisory Group restated an “outperform” rating and issued a $14.00 price objective on shares of Westrock Coffee in a report on Friday, June 28th.

Westrock Coffee Price Performance

The stock has a 50 day moving average price of $9.65 and a two-hundred day moving average price of $10.00. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.31 and a quick ratio of 0.67. The firm has a market capitalization of $775.58 million, a price-to-earnings ratio of -13.63 and a beta of 0.45.

Westrock Coffee (NASDAQ:WEST) last released its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The business had revenue of $208.39 million for the quarter, compared to analyst estimates of $214.40 million. Westrock Coffee had a negative return on equity of 18.20% and a negative net margin of 5.37%. During the same quarter last year, the company earned ($0.21) earnings per share. Westrock Coffee’s quarterly revenue was down 7.3% compared to the same quarter last year. As a group, analysts expect that Westrock Coffee will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other Westrock Coffee news, CFO Thomas Christopher Pledger sold 6,600 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $10.00, for a total transaction of $66,000.00. Following the sale, the chief financial officer now directly owns 466,673 shares in the company, valued at approximately $4,666,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Hf Direct Investments Pool, Ll sold 38,393 shares of Westrock Coffee stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $10.11, for a total transaction of $388,153.23. Following the sale, the insider now owns 12,745,237 shares in the company, valued at $128,854,346.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Christopher Pledger sold 6,600 shares of Westrock Coffee stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $10.00, for a total transaction of $66,000.00. Following the sale, the chief financial officer now directly owns 466,673 shares in the company, valued at approximately $4,666,730. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,451 shares of company stock worth $1,856,419. 42.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of Westrock Coffee by 69.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock worth $35,000 after purchasing an additional 1,444 shares during the last quarter. ProShare Advisors LLC acquired a new stake in Westrock Coffee during the second quarter valued at approximately $39,000. Hexagon Capital Partners LLC bought a new position in Westrock Coffee during the 1st quarter worth approximately $41,000. Wolverine Asset Management LLC increased its holdings in shares of Westrock Coffee by 79.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock valued at $42,000 after acquiring an additional 1,820 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Westrock Coffee during the 4th quarter valued at approximately $114,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Westrock Coffee Company Profile

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.