Westrock Coffee (NASDAQ:WEST) Stock Price Down 6.5% – Here’s What Happened

Westrock Coffee Company (NASDAQ:WEST)’s stock price dropped 6.5% during trading on Monday . The company traded as low as $8.81 and last traded at $8.78. 432,616 shares were traded during trading, a decline of 20% from the average session volume of 539,586 shares. The stock had previously closed at $9.39.

Analyst Ratings Changes

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

Westrock Coffee Stock Down 10.0%

The company has a debt-to-equity ratio of 37.87, a quick ratio of 0.46 and a current ratio of 0.97. The stock has a market cap of $818.72 million, a price-to-earnings ratio of -11.32 and a beta of 0.90. The business’s 50 day moving average is $7.73 and its 200 day moving average is $5.60.

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

Insiders Place Their Bets

In other Westrock Coffee news, Director Joe T. Ford purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $8.50 per share, with a total value of $127,500.00. Following the completion of the transaction, the director owned 273,000 shares of the company’s stock, valued at approximately $2,320,500. This represents a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 34,500 shares of company stock worth $290,715 over 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. Agman Capital LLC acquired a new position in shares of Westrock Coffee in the 4th quarter valued at about $3,007,000. Millennium Management LLC lifted its position in shares of Westrock Coffee by 111.2% in the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock worth $2,753,000 after purchasing an additional 356,118 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Westrock Coffee during the first quarter worth approximately $1,203,000. CastleKnight Management LP grew its position in Westrock Coffee by 44.8% during the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after purchasing an additional 178,020 shares in the last quarter. Finally, Piedmont Capital Management LLC NC acquired a new position in Westrock Coffee in the 4th quarter valued at approximately $645,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

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.