Westrock Coffee (NASDAQ:WEST) Shares Gap Down – What’s Next?

Westrock Coffee Company (NASDAQ:WEST) gapped down prior to trading on Wednesday . The stock had previously closed at $7.21, but opened at $6.82. Westrock Coffee shares last traded at $6.9540, with a volume of 63,812 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WEST shares. Telsey Advisory Group raised their price target on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Stifel Nicolaus set a $8.00 target price on shares of Westrock Coffee in a report on Friday, May 8th. Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings upgraded shares of Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Benchmark raised their price objective on Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.00.

Westrock Coffee Price Performance

The company has a market cap of $693.66 million, a P/E ratio of -9.55 and a beta of 0.90. The business has a fifty day moving average price of $8.07 and a 200-day moving average price of $5.80.

Westrock Coffee (NASDAQ:WEST) last announced its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $308.83 million for the quarter, compared to analyst estimates of $285.12 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. As a group, research analysts expect that Westrock Coffee Company will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Joe T. Ford acquired 15,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $8.50 per share, with a total value of $127,500.00. Following the acquisition, the director directly owned 273,000 shares in the company, valued at $2,320,500. This represents a 5.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders acquired 34,500 shares of company stock valued at $290,715. Corporate insiders own 25.40% of the company’s stock.

Institutional Investors Weigh In On Westrock Coffee

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in shares of Westrock Coffee in the first quarter valued at about $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Westrock Coffee by 10.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock valued at $154,000 after purchasing an additional 2,003 shares during the period. Rhumbline Advisers boosted its holdings in Westrock Coffee by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 49,510 shares of the company’s stock valued at $284,000 after purchasing an additional 3,723 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Westrock Coffee by 199.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after purchasing an additional 4,136 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Westrock Coffee during the 2nd quarter worth approximately $104,000. Institutional investors own 45.08% of the company’s stock.

Westrock Coffee Company Profile

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.