Coffee Holding Co., Inc. (NASDAQ:JVA) Sees Large Increase in Short Interest

Coffee Holding Co., Inc. (NASDAQ:JVA) saw a large increase in short interest in October. As of October 15th, there was short interest totaling 13,526 shares, an increase of 67.6% from the September 30th total of 8,068 shares. Based on an average daily volume of 82,316 shares, the short-interest ratio is presently 0.2 days. Approximately 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On Coffee

A hedge fund recently bought a new position in Coffee stock. Clear Point Advisors Inc. bought a new position in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,968 shares of the company’s stock, valued at approximately $78,000. Clear Point Advisors Inc. owned 0.35% of Coffee as of its most recent SEC filing.

Coffee Stock Performance

Shares of JVA stock opened at $5.03 on Monday. The company has a market capitalization of $28.72 million, a price-to-earnings ratio of 5.99 and a beta of 1.42. Coffee has a 52-week low of $2.93 and a 52-week high of $5.18. The company has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $3.87.

Coffee (NASDAQ:JVA) last posted its earnings results on Friday, September 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.01 by $0.34. The firm had revenue of $21.69 million for the quarter, compared to analysts’ expectations of $23.00 million. Coffee had a net margin of 4.85% and a return on equity of 16.20%.

Coffee announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 7th that authorizes the company to repurchase $2.50 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. DA Davidson set a $10.00 price objective on Coffee in a report on Wednesday, August 12th. Finally, Wall Street Zen raised Coffee to a “buy” rating in a research note on Saturday, October 24th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $9.50.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.