Mission Produce, Inc. (NASDAQ:AVO) Short Interest Update

Mission Produce, Inc. (NASDAQ:AVO) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,600,000 shares, a growth of 21.2% from the September 30th total of 1,320,000 shares. Based on an average daily volume of 278,300 shares, the short-interest ratio is presently 5.7 days. Approximately 3.6% of the shares of the company are sold short.

Mission Produce Stock Down 0.2 %

Shares of Mission Produce stock opened at $11.93 on Wednesday. The stock has a 50-day simple moving average of $12.03 and a 200-day simple moving average of $11.36. Mission Produce has a 52-week low of $8.19 and a 52-week high of $13.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40. The firm has a market cap of $845.97 million, a price-to-earnings ratio of 36.15 and a beta of 0.48.

Mission Produce (NASDAQ:AVO) last posted its earnings results on Monday, September 9th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.23. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. The firm had revenue of $324.00 million during the quarter, compared to analyst estimates of $229.90 million. On average, equities research analysts expect that Mission Produce will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Luis A. Gonzalez sold 49,331 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.03, for a total transaction of $642,782.93. Following the transaction, the director now directly owns 7,398,902 shares of the company’s stock, valued at approximately $96,407,693.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Luis A. Gonzalez sold 49,331 shares of Mission Produce stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $13.03, for a total transaction of $642,782.93. Following the transaction, the director now directly owns 7,398,902 shares of the company’s stock, valued at $96,407,693.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the transaction, the director now directly owns 8,630,002 shares in the company, valued at approximately $114,347,526.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 296,059 shares of company stock valued at $3,920,360. Company insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Capital Management LLC bought a new stake in shares of Mission Produce during the first quarter valued at approximately $1,331,000. Dimensional Fund Advisors LP increased its position in shares of Mission Produce by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after purchasing an additional 266,489 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Mission Produce by 15.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after purchasing an additional 1,870 shares during the period. American Century Companies Inc. increased its position in shares of Mission Produce by 16.5% during the second quarter. American Century Companies Inc. now owns 70,511 shares of the company’s stock valued at $697,000 after purchasing an additional 10,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Mission Produce by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,831,250 shares of the company’s stock valued at $33,607,000 after buying an additional 29,822 shares in the last quarter. 63.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Lake Street Capital restated a “buy” rating and set a $15.00 price objective on shares of Mission Produce in a research report on Tuesday, September 10th. Roth Mkm lifted their price target on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.