Farmer Brothers Company (NASDAQ:FARM) Sees Large Drop in Short Interest

Farmer Brothers Company (NASDAQ:FARM) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 44,530 shares, a drop of 17.8% from the January 15th total of 54,204 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 62,423 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 62,423 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the company are sold short.

Farmer Brothers Stock Performance

Shares of FARM traded down $0.06 during mid-day trading on Monday, reaching $1.54. The company had a trading volume of 332,108 shares, compared to its average volume of 88,627. Farmer Brothers has a 52-week low of $1.34 and a 52-week high of $3.29. The company has a quick ratio of 0.46, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $33.26 million, a P/E ratio of -1.79 and a beta of 1.27. The stock has a 50 day moving average of $1.56 and a two-hundred day moving average of $1.68.

Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.08). Farmer Brothers had a negative net margin of 5.51% and a negative return on equity of 29.51%. The company had revenue of $88.92 million for the quarter, compared to analysts’ expectations of $90.47 million. On average, analysts expect that Farmer Brothers will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FARM. Panagora Asset Management Inc. purchased a new stake in shares of Farmer Brothers during the 2nd quarter worth about $26,000. XTX Topco Ltd boosted its position in Farmer Brothers by 210.2% during the second quarter. XTX Topco Ltd now owns 42,297 shares of the company’s stock worth $58,000 after purchasing an additional 28,661 shares in the last quarter. Jane Street Group LLC boosted its position in Farmer Brothers by 152.2% during the first quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock worth $91,000 after purchasing an additional 24,820 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Farmer Brothers by 253.7% in the first quarter. Goldman Sachs Group Inc. now owns 68,833 shares of the company’s stock valued at $153,000 after purchasing an additional 49,374 shares during the period. Finally, Sanders Morris Harris LLC increased its position in shares of Farmer Brothers by 43.5% in the third quarter. Sanders Morris Harris LLC now owns 218,238 shares of the company’s stock valued at $373,000 after buying an additional 66,200 shares in the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FARM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Farmer Brothers in a research report on Monday, December 29th. Zacks Research upgraded Farmer Brothers from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Roth Mkm decreased their target price on Farmer Brothers from $3.50 to $3.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Farmer Brothers currently has a consensus rating of “Hold” and a consensus price target of $2.75.

About Farmer Brothers

Farmer Brothers Company (NASDAQ: FARM) is a specialty coffee roaster and distributor that serves the foodservice, hospitality and office coffee markets across the United States. The company produces and delivers coffee, tea, single-serve products and beverage equipment, supporting its customers with supply chain solutions, equipment maintenance and barista training services. Its operations are organized to serve commercial accounts ranging from national restaurant chains and convenience stores to independent coffee shops and corporate offices.

Founded in 1912 in Texas, Farmer Brothers has grown from a regional roaster into a national supplier with a network of manufacturing and distribution facilities.