Westrock Coffee (NASDAQ:WEST) Trading Down 5.3% – Should You Sell?

Shares of Westrock Coffee (NASDAQ:WEST) dropped 5.3% during mid-day trading on Monday . The company traded as low as $6.24 and last traded at $6.24. Approximately 152,779 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 225,226 shares. The stock had previously closed at $6.59.

Wall Street Analyst Weigh In

Several research firms have commented on WEST. Truist Financial initiated coverage on shares of Westrock Coffee in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 price objective for the company. Craig Hallum assumed coverage on Westrock Coffee in a research report on Monday, September 23rd. They set a “buy” rating and a $13.00 price target for the company. Finally, Telsey Advisory Group cut their price objective on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

Westrock Coffee Trading Up 0.2 %

The stock’s 50 day simple moving average is $7.02 and its two-hundred day simple moving average is $7.87. The stock has a market capitalization of $589.62 million, a PE ratio of -7.28 and a beta of 0.55. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73.

Insider Activity at Westrock Coffee

In other Westrock Coffee news, Director Kenneth M. Parent bought 62,735 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the transaction, the director now directly owns 112,451 shares of the company’s stock, valued at $907,479.57. This trade represents a 126.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 42.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. lifted its position in shares of Westrock Coffee by 26.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 24,578 shares of the company’s stock worth $159,000 after acquiring an additional 5,200 shares in the last quarter. Arvest Bank Trust Division bought a new stake in shares of Westrock Coffee during the 3rd quarter valued at $115,000. Barclays PLC lifted its holdings in Westrock Coffee by 363.9% during the 3rd quarter. Barclays PLC now owns 57,357 shares of the company’s stock worth $373,000 after purchasing an additional 44,993 shares in the last quarter. Geode Capital Management LLC boosted its stake in Westrock Coffee by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock worth $5,242,000 after purchasing an additional 43,731 shares during the period. Finally, State Street Corp grew its holdings in Westrock Coffee by 2.0% during the 3rd quarter. State Street Corp now owns 649,553 shares of the company’s stock valued at $4,222,000 after buying an additional 12,937 shares in the last quarter. 45.08% of the stock is owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.