Westrock Coffee (NASDAQ:WEST) Shares Down 3.8% – Here’s Why

Westrock Coffee Company (NASDAQ:WEST) traded down 3.8% on Tuesday . The stock traded as low as $8.10 and last traded at $8.12. Approximately 68,983 shares were traded during mid-day trading, a decline of 87% from the average session volume of 526,794 shares. The stock had previously closed at $8.44.

Analyst Upgrades and Downgrades

WEST has been the topic of several recent analyst reports. Benchmark upped their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, May 11th. Telsey Advisory Group upped their price target on shares of Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Stifel Nicolaus set a $9.00 price target on shares of Westrock Coffee in a report on Friday, August 7th. Zacks Research upgraded shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Westrock Coffee in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Westrock Coffee Stock Down 2.9%

The stock has a 50-day moving average of $8.10 and a 200 day moving average of $6.62. The stock has a market cap of $800.08 million, a PE ratio of -12.41 and a beta of 0.90.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%.The business had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $318.80 million. On average, equities analysts anticipate that Westrock Coffee Company will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Westrock Coffee

Several hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC acquired a new stake in Westrock Coffee during the 1st quarter worth about $26,000. Legal & General Group Plc purchased a new position in shares of Westrock Coffee during the 2nd quarter valued at about $30,000. California State Teachers Retirement System lifted its holdings in shares of Westrock Coffee by 115.0% in the 2nd quarter. California State Teachers Retirement System now owns 4,193 shares of the company’s stock valued at $34,000 after buying an additional 2,243 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Westrock Coffee by 199.0% in the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after buying an additional 4,136 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Westrock Coffee by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock worth $38,000 after buying an additional 3,439 shares during the last quarter. 45.08% of the stock is owned by hedge funds and other institutional investors.

About Westrock Coffee

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.