Coffee Holding Co. (JVA) to Buyback $2.00 million in Outstanding Shares
Coffee Holding Co. (NASDAQ:JVA) announced that its board has approved a stock buyback program, which authorizes the company to buyback $2.00 million in shares on Wednesday, September 13th, EventVestor reports. This buyback authorization authorizes the company to reacquire up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Coffee Holding Co. (NASDAQ JVA) traded down 1.3949% during midday trading on Thursday, hitting $4.2696. The stock had a trading volume of 3,699 shares. Coffee Holding Co. has a one year low of $3.76 and a one year high of $5.86. The stock has a 50-day moving average price of $4.02 and a 200 day moving average price of $4.49. The firm has a market cap of $25.02 million, a PE ratio of 19.5853 and a beta of 1.58.
Coffee Holding Co. (NASDAQ:JVA) last released its quarterly earnings data on Wednesday, September 13th. The company reported $0.01 earnings per share (EPS) for the quarter. Coffee Holding Co. had a return on equity of 5.18% and a net margin of 1.83%. The business had revenue of $17.98 million during the quarter. On average, analysts predict that Coffee Holding Co. will post $0.37 earnings per share for the current year.
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In related news, insider Andrew Gordon acquired 10,000 shares of Coffee Holding Co. stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average price of $4.41 per share, for a total transaction of $44,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.51% of the company’s stock.
About Coffee Holding Co.
Coffee Holding Co, Inc is a wholesale coffee roaster and dealer in the United States. The Company is engaged in manufacturing, roasting, packaging, marketing and distributing roasted and blended coffees for private labeled accounts and its own brands, and it sells green coffee. The Company’s products can be divided into three categories: Wholesale Green Coffee, Private Label Coffee and Branded Coffee.
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