Westrock Coffee (NASDAQ:WEST) Shares Up 7.9% – What’s Next?

Westrock Coffee Company (NASDAQ:WEST) traded up 7.9% on Thursday. The company traded as high as $9.79 and last traded at $9.8840. 47,705 shares were traded during trading, a decline of 90% from the average session volume of 485,363 shares. The stock had previously closed at $9.16.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group upped their price objective on shares of Westrock Coffee from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Stifel Nicolaus set a $9.00 target price on shares of Westrock Coffee in a research note on Friday, August 7th. Benchmark restated a “buy” rating on shares of Westrock Coffee in a research report on Monday, August 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Westrock Coffee in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.00.

Westrock Coffee Price Performance

The company has a fifty day moving average price of $8.11 and a two-hundred day moving average price of $7.68. The firm has a market cap of $946.03 million, a price-to-earnings ratio of -14.68 and a beta of 0.88.

Westrock Coffee (NASDAQ:WEST) last released its 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 firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $318.80 million. On average, research analysts expect that Westrock Coffee Company will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Westrock Coffee

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Westrock Coffee by 3.7% during the second quarter. State Street Corp now owns 793,823 shares of the company’s stock valued at $6,438,000 after purchasing an additional 28,318 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Westrock Coffee in the second quarter valued at $88,000. WINTON GROUP Ltd bought a new position in shares of Westrock Coffee in the second quarter valued at $100,000. Citadel Advisors LLC increased its holdings in shares of Westrock Coffee by 19.3% in the second quarter. Citadel Advisors LLC now owns 218,376 shares of the company’s stock valued at $1,771,000 after buying an additional 35,328 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new stake in shares of Westrock Coffee during the 2nd quarter valued at $101,000. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company is a global provider of integrated coffee, tea, flavors, extracts and ready-to-drink beverage solutions. The company sources raw materials from producing regions, then provides processing, roasting, blending, extraction, packaging and distribution services for beverage brands and other commercial customers.

Its products and services support a range of beverage formats, including roasted and ground coffee, single-serve coffee, tea, liquid coffee and tea extracts, ready-to-drink beverages, and customized flavor systems.