Coffee (NASDAQ:JVA) Issues Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Coffee (NASDAQ:JVA) issued its earnings results on Friday. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.34, FiscalAI reports. Coffee had a return on equity of 5.41% and a net margin of 1.53%.The business had revenue of $21.69 million during the quarter, compared to the consensus estimate of $23.00 million.

Coffee Stock Up 8.6%

Shares of NASDAQ JVA opened at $3.73 on Friday. The company has a market capitalization of $21.27 million, a PE ratio of 13.26 and a beta of 1.44. The stock’s 50 day moving average price is $3.47 and its 200-day moving average price is $3.83. Coffee has a twelve month low of $2.93 and a twelve month high of $5.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of Coffee during the 4th quarter valued at $42,000. Virtu Financial LLC bought a new position in Coffee during the third quarter valued at about $53,000. Jump Financial LLC purchased a new stake in Coffee during the second quarter worth about $58,000. Acadian Asset Management LLC purchased a new stake in Coffee during the first quarter worth about $73,000. Finally, Bridgeway Capital Management LLC raised its position in Coffee by 14.5% in the second quarter. Bridgeway Capital Management LLC now owns 26,758 shares of the company’s stock worth $116,000 after acquiring an additional 3,389 shares during the period.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler began coverage on shares of Coffee in a research report on Monday, June 8th. They set a “neutral” rating and a $9.00 price objective for the company. DA Davidson set a $10.00 target price on shares of Coffee in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of Coffee from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.50.

About Coffee

Coffee Holding Company, Inc (NASDAQ: JVA) is a specialty coffee roaster and distributor headquartered in Lakewood, New Jersey. The company’s core activities encompass the importation of green coffee beans, artisanal roasting and blending, and the packaging of coffee and tea products for wholesale customers. Through its operations, Coffee Holding Company serves a diverse client base that includes coffeehouses, restaurants, hotels, health care facilities, vending operators and retail chains.

The company’s product offering spans whole‐bean and ground coffees, single‐serve pods, cold brew formats and bulk tea selections, with both branded and private‐label solutions.