Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Decreases By 8.2%

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 5,370,000 shares, a decline of 8.2% from the January 15th total of 5,850,000 shares. Based on an average trading volume of 475,000 shares, the days-to-cover ratio is currently 11.3 days. Currently, 13.9% of the shares of the company are short sold.

Insider Activity

In other Vita Coco news, COO Jonathan Burth sold 4,052 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $37.60, for a total transaction of $152,355.20. Following the sale, the chief operating officer now directly owns 104,108 shares in the company, valued at approximately $3,914,460.80. The trade was a 3.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $35.54, for a total transaction of $177,700.00. Following the completion of the sale, the chief executive officer now owns 392,152 shares in the company, valued at $13,937,082.08. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,500 shares of company stock valued at $3,902,518 in the last ninety days. 34.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of COCO. Summit Investment Advisors Inc. grew its holdings in shares of Vita Coco by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,107 shares of the company’s stock worth $152,000 after purchasing an additional 347 shares during the period. GAMMA Investing LLC boosted its holdings in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the period. Coppell Advisory Solutions LLC boosted its holdings in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Vita Coco by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,319 shares of the company’s stock valued at $824,000 after buying an additional 842 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake in shares of Vita Coco by 4.8% during the 4th quarter. Moran Wealth Management LLC now owns 19,075 shares of the company’s stock valued at $704,000 after buying an additional 871 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 0.8 %

Shares of NASDAQ COCO traded down $0.33 on Monday, reaching $39.97. 276,908 shares of the company traded hands, compared to its average volume of 479,709. Vita Coco has a fifty-two week low of $20.64 and a fifty-two week high of $40.32. The company has a 50 day moving average of $36.59 and a 200 day moving average of $32.13. The stock has a market capitalization of $2.27 billion, a PE ratio of 40.37, a P/E/G ratio of 2.24 and a beta of 0.30.

Wall Street Analyst Weigh In

Several research firms recently commented on COCO. Wells Fargo & Company boosted their price objective on shares of Vita Coco from $33.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a research note on Monday, January 27th. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America boosted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.83.

Vita Coco Company Profile

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.