Westrock Coffee (NASDAQ:WEST) Shares Gap Down – Here’s Why

Westrock Coffee Company (NASDAQ:WEST) shares gapped down before the market opened on Wednesday . The stock had previously closed at $7.21, but opened at $6.82. Westrock Coffee shares last traded at $6.9540, with a volume of 63,812 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WEST shares. Stifel Nicolaus set a $8.00 price target on shares of Westrock Coffee in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Telsey Advisory Group increased their price target on Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Westrock Coffee presently has a consensus rating of “Hold” and an average price target of $9.00.

Westrock Coffee Trading Down 3.6%

The firm’s 50-day moving average price is $8.00 and its 200 day moving average price is $5.76. The company has a market capitalization of $673.70 million, a price-to-earnings ratio of -9.25 and a beta of 0.90.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. The business had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.12 million. As a group, equities research analysts anticipate that Westrock Coffee Company will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the transaction, the director directly owned 273,000 shares in the company, valued at $2,320,500. This represents a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders acquired 34,500 shares of company stock worth $290,715. 25.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Westrock Coffee by 2.2% during the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company’s stock valued at $297,000 after purchasing an additional 1,477 shares during the last quarter. Group One Trading LLC bought a new position in Westrock Coffee in the 1st quarter valued at approximately $26,000. Hsbc Holdings PLC boosted its position in Westrock Coffee by 110.9% in the first quarter. Hsbc Holdings PLC now owns 29,811 shares of the company’s stock valued at $123,000 after buying an additional 15,676 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Westrock Coffee in the first quarter valued at approximately $1,203,000. Finally, Inspire Investing LLC grew its stake in shares of Westrock Coffee by 8.1% during the first quarter. Inspire Investing LLC now owns 125,038 shares of the company’s stock worth $531,000 after buying an additional 9,319 shares during the last quarter. Institutional investors own 45.08% of the company’s stock.

Westrock Coffee Company Profile

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.