The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,670,000 shares, an increase of 7.0% from the March 31st total of 5,300,000 shares. Approximately 14.8% of the shares of the company are sold short. Based on an average trading volume of 681,300 shares, the days-to-cover ratio is currently 8.3 days.

Insider Activity at Vita Coco

In other Vita Coco news, Chairman Michael Kirban sold 19,198 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the sale, the chairman now owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total value of $480,141.98. Following the completion of the transaction, the chairman now owns 656,483 shares of the company’s stock, valued at approximately $16,418,639.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ira Liran sold 2,780 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.04, for a total value of $69,611.20. Following the sale, the director now directly owns 992,644 shares in the company, valued at $24,855,805.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,353 shares of company stock worth $1,309,536. 51.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vita Coco

A number of institutional investors have recently modified their holdings of the stock. Headinvest LLC purchased a new stake in shares of Vita Coco in the third quarter valued at approximately $29,000. Robeco Institutional Asset Management B.V. bought a new stake in Vita Coco during the 4th quarter valued at $60,000. New York State Teachers Retirement System purchased a new stake in shares of Vita Coco in the 1st quarter worth $63,000. PNC Financial Services Group Inc. lifted its holdings in shares of Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Vita Coco by 1,237.2% during the 3rd quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock worth $167,000 after buying an additional 5,926 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Up 7.9 %

Shares of Vita Coco stock opened at $26.16 on Thursday. The stock’s fifty day moving average is $24.56 and its two-hundred day moving average is $25.01. Vita Coco has a 52 week low of $19.41 and a 52 week high of $33.29. The company has a market capitalization of $1.48 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.94 and a beta of 0.18.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The firm had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. During the same period in the prior year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, research analysts anticipate that Vita Coco will post 0.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on COCO shares. The Goldman Sachs Group lowered their target price on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Thursday, February 29th. Piper Sandler upped their target price on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. William Blair lowered Vita Coco from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.71.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.