Westrock Coffee (NASDAQ:WEST) Trading Down 3.8% – Here’s What Happened

Shares of Westrock Coffee Company (NASDAQ:WEST) dropped 3.8% on Tuesday . The company traded as low as $8.10 and last traded at $8.12. 68,983 shares were traded during trading, a decline of 87% from the average daily volume of 526,794 shares. The stock had previously closed at $8.44.

Analyst Ratings Changes

A number of research analysts have recently commented on WEST shares. Benchmark raised 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Westrock Coffee in a report on Tuesday, August 4th. Telsey Advisory Group boosted their target price on shares of Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Stifel Nicolaus set a $9.00 target price on shares of Westrock Coffee in a report on Friday, August 7th. Finally, Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.00.

Westrock Coffee Stock Up 0.1%

The company’s fifty day moving average price is $8.06 and its 200-day moving average price is $6.66. The stock has a market capitalization of $794.71 million, a PE ratio of -12.33 and a beta of 0.90.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%.The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $318.80 million. Equities research analysts anticipate that Westrock Coffee Company will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in Westrock Coffee by 2.2% in the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company’s stock worth $297,000 after buying an additional 1,477 shares in the last quarter. Red Door Wealth Management LLC raised its position in Westrock Coffee by 7.7% in the 1st quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company’s stock worth $119,000 after buying an additional 2,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Westrock Coffee by 10.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock valued at $154,000 after acquiring an additional 2,003 shares during the period. California State Teachers Retirement System lifted its stake in Westrock Coffee by 115.0% during the 2nd quarter. California State Teachers Retirement System now owns 4,193 shares of the company’s stock valued at $34,000 after acquiring an additional 2,243 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Westrock Coffee by 14.9% during the 4th quarter. MetLife Investment Management LLC now owns 20,863 shares of the company’s stock valued at $85,000 after acquiring an additional 2,704 shares during the last quarter. 45.08% of the stock is currently owned by institutional investors.

About Westrock Coffee

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.