Westrock Coffee (NASDAQ:WEST) Shares Gap Down – Here’s Why

Westrock Coffee (NASDAQ:WEST)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $6.59, but opened at $6.08. Westrock Coffee shares last traded at $6.10, with a volume of 82,407 shares changing hands.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $9.00 price target on shares of Westrock Coffee in a research report on Wednesday.

Westrock Coffee Stock Performance

The stock has a market cap of $583.49 million, a P/E ratio of -7.20 and a beta of 0.59. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $6.48 and its two-hundred day simple moving average is $6.86.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WEST. Charles Schwab Investment Management Inc. boosted its position in Westrock Coffee by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company’s stock worth $1,827,000 after acquiring an additional 2,010 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Westrock Coffee by 23.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company’s stock worth $87,000 after purchasing an additional 2,588 shares during the last quarter. Barclays PLC grew its position in Westrock Coffee by 6.6% in the fourth quarter. Barclays PLC now owns 61,159 shares of the company’s stock valued at $392,000 after purchasing an additional 3,802 shares in the last quarter. Arvest Bank Trust Division grew its position in Westrock Coffee by 28.4% in the fourth quarter. Arvest Bank Trust Division now owns 22,635 shares of the company’s stock valued at $145,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in Westrock Coffee by 46.6% in the 4th quarter. Townsquare Capital LLC now owns 16,133 shares of the company’s stock valued at $104,000 after buying an additional 5,131 shares during the last quarter. 45.08% of the stock is owned by institutional investors and hedge funds.

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.