The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 5,670,000 shares, a growth of 7.0% from the March 31st total of 5,300,000 shares. Approximately 14.8% of the shares of the company are sold short. Based on an average daily trading volume, of 681,300 shares, the short-interest ratio is presently 8.3 days.

Vita Coco Price Performance

COCO stock opened at $26.16 on Thursday. The company’s 50 day simple moving average is $24.56 and its 200-day simple moving average is $25.01. The firm has a market capitalization of $1.48 billion, a PE ratio of 32.70, a P/E/G ratio of 2.00 and a beta of 0.16. Vita Coco has a 12 month low of $19.41 and a 12 month high of $33.29.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, sell-side analysts anticipate that Vita Coco will post 0.92 earnings per share for the current year.

Insider Activity

In other news, Director Ira Liran sold 13,998 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.02, for a total value of $350,229.96. Following the completion of the sale, the director now directly owns 645,942 shares of the company’s stock, valued at $16,161,468.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Michael Kirban sold 6,900 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $25.00, for a total transaction of $172,500.00. Following the transaction, the chairman now directly owns 633,448 shares in the company, valued at $15,836,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira Liran sold 13,998 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $25.02, for a total transaction of $350,229.96. Following the transaction, the director now owns 645,942 shares in the company, valued at $16,161,468.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,353 shares of company stock valued at $1,309,536. Insiders own 51.10% of the company’s stock.

Institutional Trading of Vita Coco

Several large investors have recently modified their holdings of COCO. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Vita Coco in the third quarter valued at approximately $324,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Vita Coco during the third quarter valued at approximately $337,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Vita Coco by 95.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,750 shares of the company’s stock valued at $202,000 after buying an additional 3,776 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Vita Coco by 31.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 94,610 shares of the company’s stock valued at $2,464,000 after buying an additional 22,549 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of Vita Coco during the third quarter valued at approximately $724,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, January 30th. William Blair lowered shares of Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Piper Sandler upped their target price on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Stephens upgraded shares of Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.71.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.