Mission Produce (NASDAQ:AVO) Shares Up 5.9% – What’s Next?

Mission Produce, Inc. (NASDAQ:AVO) traded up 5.9% during trading on Wednesday . The stock traded as high as $12.85 and last traded at $12.8750. 838,099 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 815,448 shares. The stock had previously closed at $12.16.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AVO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a research report on Wednesday, January 21st. Lake Street Capital reiterated a “buy” rating on shares of Mission Produce in a report on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Mission Produce currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Mission Produce Stock Up 4.9%

The firm has a market cap of $904.07 million, a P/E ratio of 27.84 and a beta of 0.60. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $13.46 and a 200-day moving average price of $12.57.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Thursday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $278.60 million for the quarter, compared to analyst estimates of $277.33 million. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.The firm’s quarterly revenue was down 26.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, equities analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Holdings Venture Globalharvest bought 71,750 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were bought at an average price of $13.80 per share, with a total value of $990,150.00. Following the transaction, the insider owned 9,770,608 shares in the company, valued at approximately $134,834,390.40. This trade represents a 0.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 2,141,484 shares of company stock valued at $25,996,353. 30.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mission Produce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVO. Quarry LP purchased a new stake in shares of Mission Produce in the third quarter worth about $29,000. GAMMA Investing LLC raised its position in Mission Produce by 673.8% during the third quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock valued at $29,000 after acquiring an additional 2,136 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Mission Produce during the 4th quarter worth approximately $31,000. State of Alaska Department of Revenue purchased a new stake in shares of Mission Produce during the third quarter worth about $33,000. Finally, Tower Research Capital LLC TRC increased its position in Mission Produce by 211.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after purchasing an additional 3,158 shares during the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

Mission Produce Company Profile

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.