Coffee Holding Co., Inc. (NASDAQ:JVA) Sees Large Decrease in Short Interest

Coffee Holding Co., Inc. (NASDAQ:JVA) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 8,068 shares, a decrease of 70.2% from the September 15th total of 27,101 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 49,918 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings raised shares of Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. DA Davidson set a $10.00 price objective on shares of Coffee in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.50.

Coffee Price Performance

Shares of Coffee stock remained flat at $4.63 during midday trading on Monday. The company had a trading volume of 52,603 shares, compared to its average volume of 79,169. The firm has a market cap of $26.44 million, a PE ratio of 5.51 and a beta of 1.41. The firm has a 50-day moving average price of $3.75 and a 200 day moving average price of $3.93. Coffee has a 52 week low of $2.93 and a 52 week high of $5.03.

Coffee (NASDAQ:JVA) last posted its quarterly earnings data on Friday, September 11th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.34. Coffee had a return on equity of 16.20% and a net margin of 4.85%. The company had revenue of $21.69 million during the quarter, compared to analyst estimates of $23.00 million.

Coffee announced that its board has approved a stock buyback program on Wednesday, October 7th that authorizes the company to buy back $2.50 million in shares. This repurchase authorization authorizes the company to purchase up to 11% of its shares through open market purchases. Share repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Coffee

A hedge fund recently raised its position in Coffee stock. Empowered Funds LLC raised its stake in Coffee Holding Co., Inc. (NASDAQ:JVA) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,420 shares of the company’s stock after acquiring an additional 3,538 shares during the period. Empowered Funds LLC owned approximately 0.67% of Coffee worth $163,000 as of its most recent SEC filing.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a specialty coffee processor, roaster, packager and distributor headquartered in Staten Island, New York. The company supplies coffee products to retail, foodservice and private-label customers, offering roasted whole-bean and ground coffee as well as other coffee formats.

The company markets products under its own brands and also produces coffee for third-party customers. Its activities include sourcing green coffee beans, roasting and blending coffee, packaging finished products, and distributing them through grocery, foodservice and wholesale channels.

Coffee Holding was founded in 1975 and has expanded its business through branded products, private-label production and acquisitions.