Westrock Coffee (NASDAQ:WEST) Shares Gap Up on Insider Buying Activity

Westrock Coffee (NASDAQ:WEST) shares gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $6.55, but opened at $6.83. Westrock Coffee shares last traded at $6.80, with a volume of 45,419 shares traded.

Specifically, COO William A. Ford acquired 15,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the completion of the purchase, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at $3,071,425.50. This represents a 3.25 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

WEST has been the topic of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and set a $9.00 price target on shares of Westrock Coffee in a research report on Wednesday, March 12th. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Westrock Coffee in a research report on Friday, March 14th.

Westrock Coffee Price Performance

The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The firm has a market capitalization of $650.93 million, a price-to-earnings ratio of -7.90 and a beta of 0.59. The business has a 50-day moving average price of $6.48 and a two-hundred day moving average price of $6.78.

Institutional Trading of Westrock Coffee

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new stake in Westrock Coffee in the 4th quarter valued at approximately $37,000. KLP Kapitalforvaltning AS acquired a new stake in Westrock Coffee in the 4th quarter valued at approximately $47,000. Atom Investors LP acquired a new stake in Westrock Coffee in the 3rd quarter valued at approximately $70,000. Intech Investment Management LLC acquired a new stake in Westrock Coffee in the 3rd quarter valued at approximately $71,000. Finally, Virtu Financial LLC acquired a new stake in Westrock Coffee in the 4th quarter valued at approximately $83,000. 45.08% of the stock is currently owned by institutional investors and hedge funds.

About Westrock Coffee

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.