Westrock Coffee (NASDAQ:WEST) Shares Gap Down – Here’s Why

Westrock Coffee Company (NASDAQ:WEST)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $7.54, but opened at $7.11. Westrock Coffee shares last traded at $7.6890, with a volume of 21,303 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Benchmark increased their target price on Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Telsey Advisory Group raised their price target on Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Stifel Nicolaus set a $8.00 price target on Westrock Coffee in a research report on Friday, May 8th. Finally, Zacks Research raised Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.00.

Westrock Coffee Stock Performance

The company has a market cap of $683.97 million, a P/E ratio of -9.41 and a beta of 0.90. The company’s fifty day moving average is $7.94 and its 200 day moving average is $5.71.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. The business had revenue of $308.83 million during the quarter, compared to the consensus estimate of $285.12 million. Analysts anticipate that Westrock Coffee Company will post -0.18 EPS for the current year.

Insider Activity at Westrock Coffee

In related news, Director Joe T. Ford bought 15,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $8.50 per share, with a total value of $127,500.00. Following the purchase, the director owned 273,000 shares in the company, valued at approximately $2,320,500. The trade was a 5.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought a total of 34,500 shares of company stock valued at $290,715 in the last quarter. 25.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors and hedge funds have recently bought and sold shares of WEST. Group One Trading LLC bought a new stake in Westrock Coffee in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Westrock Coffee by 199.0% in the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after purchasing an additional 4,136 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Westrock Coffee by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock worth $38,000 after purchasing an additional 3,439 shares during the last quarter. Waterloo Capital L.P. bought a new position in shares of Westrock Coffee in the fourth quarter worth approximately $43,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Westrock Coffee in the fourth quarter worth $47,000. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.