Short Interest in Mission Produce, Inc. (NASDAQ:AVO) Increases By 221.5%

Mission Produce, Inc. (NASDAQ:AVO) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 3,639,623 shares, a growth of 221.5% from the January 15th total of 1,132,043 shares. Approximately 8.0% of the company’s stock are short sold. Based on an average daily volume of 1,253,546 shares, the days-to-cover ratio is currently 2.9 days. Based on an average daily volume of 1,253,546 shares, the days-to-cover ratio is currently 2.9 days. Approximately 8.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AVO shares. Lake Street Capital reissued a “buy” rating on shares of Mission Produce in a research report on Thursday, January 15th. Zacks Research lowered Mission Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mission Produce presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Mission Produce Stock Up 0.4%

Mission Produce stock opened at $13.71 on Wednesday. Mission Produce has a fifty-two week low of $9.56 and a fifty-two week high of $14.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.95. The firm’s 50-day simple moving average is $12.59 and its 200 day simple moving average is $12.32. The stock has a market cap of $967.51 million, a PE ratio of 26.37 and a beta of 0.62.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings data on Thursday, December 18th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a net margin of 2.71% and a return on equity of 8.18%. The firm had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $301.60 million. During the same quarter last year, the business posted $0.28 EPS. The company’s quarterly revenue was down 10.0% on a year-over-year basis. Research analysts predict that Mission Produce will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Mission Produce news, major shareholder Holdings Venture Globalharvest acquired 71,750 shares of the stock in a transaction on Thursday, January 22nd. The shares were purchased at an average price of $13.80 per share, for a total transaction of $990,150.00. Following the completion of the acquisition, the insider owned 9,770,608 shares in the company, valued at approximately $134,834,390.40. This represents a 0.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 2,141,484 shares of company stock worth $25,996,353. Insiders own 35.41% of the company’s stock.

Institutional Trading of Mission Produce

A number of hedge funds have recently bought and sold shares of the business. Platform Wealth Management LLC bought a new stake in Mission Produce in the fourth quarter worth about $12,130,000. Invesco Ltd. grew its position in shares of Mission Produce by 287.6% during the 2nd quarter. Invesco Ltd. now owns 360,863 shares of the company’s stock valued at $4,229,000 after acquiring an additional 267,752 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Mission Produce by 174.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 366,957 shares of the company’s stock worth $4,411,000 after purchasing an additional 233,447 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Mission Produce by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 861,139 shares of the company’s stock worth $10,093,000 after purchasing an additional 191,405 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Mission Produce by 6.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,570,868 shares of the company’s stock worth $30,901,000 after purchasing an additional 159,726 shares during the period. 63.57% of the stock is currently owned by institutional investors.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.