Coffee Holding Co., Inc. (NASDAQ:JVA) Stock Short Interest Report for October

Coffee Holding Co., Inc. (NASDAQ:JVA) saw a large increase in short interest in October. As of October 30th, there was short interest totaling 26,826 shares, an increase of 98.3% from the October 15th total of 13,526 shares. Based on an average trading volume of 52,716 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Coffee

An institutional investor recently bought a new stake 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 disclosure with the Securities & Exchange Commission. The institutional investor 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 Price Performance

JVA traded down $0.10 during midday trading on Friday, hitting $5.07. 83,744 shares of the company’s stock traded hands, compared to its average volume of 54,638. The company has a market cap of $28.95 million, a PE ratio of 6.04 and a beta of 1.42. The stock’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $3.93. Coffee has a one year low of $2.93 and a one year high of $5.24.

Coffee (NASDAQ:JVA) last announced its quarterly 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. Coffee had a net margin of 4.85% and a return on equity of 16.20%. The company had revenue of $21.69 million for the quarter, compared to analyst estimates of $23.00 million.

Coffee declared that its board has approved a stock buyback program on Wednesday, October 7th that allows the company to buy back $2.50 million in shares. This buyback authorization allows the company to repurchase up to 11% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JVA shares. 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 $13.00 price objective on shares of Coffee in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Coffee from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.00.

About Coffee

Coffee Holding Company, Inc. imports, roasts, packages and distributes green and roasted coffee. Its products serve wholesale customers, including retailers and food-service businesses, and the company also provides private-label coffee programs. The company offers coffee under brands including Café Caribe, Café Supremo, Don Manuel, Harmony Bay and Premier Roasters. Through its subsidiary Organic Products Trading Company, it also specializes in sourcing organic and fair-trade coffees. Coffee Holding is based in Staten Island, New York, and sources coffee from producing regions around the world.