The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Down 11.9% in February

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 4,730,000 shares, a decline of 11.9% from the January 31st total of 5,370,000 shares. Currently, 12.2% of the shares of the stock are sold short. Based on an average trading volume of 529,900 shares, the days-to-cover ratio is currently 8.9 days.

Insider Activity at Vita Coco

In other news, COO Jonathan Burth sold 10,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $32.69, for a total value of $326,900.00. Following the sale, the chief operating officer now owns 94,108 shares of the company’s stock, valued at approximately $3,076,390.52. This represents a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Liran sold 30,000 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the sale, the director now owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,632 shares of company stock valued at $3,785,368 over the last quarter. 34.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vita Coco

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its stake in Vita Coco by 8.5% during the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock worth $424,000 after buying an additional 1,178 shares during the period. Victory Capital Management Inc. grew its position in shares of Vita Coco by 106.4% in the third quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares during the last quarter. Quest Partners LLC boosted its position in shares of Vita Coco by 16,538.1% in the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Vita Coco during the third quarter worth approximately $1,145,000. Finally, Moran Wealth Management LLC raised its position in shares of Vita Coco by 43.5% in the 3rd quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock valued at $515,000 after buying an additional 5,517 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. The Goldman Sachs Group upped their target price on shares of Vita Coco from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company lowered their price target on shares of Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Finally, Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective on the stock. in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and an average target price of $35.14.

Vita Coco Trading Down 3.1 %

Shares of NASDAQ:COCO traded down $1.02 during mid-day trading on Thursday, reaching $32.04. The stock had a trading volume of 143,226 shares, compared to its average volume of 550,905. The firm has a market cap of $1.83 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 2.25 and a beta of 0.30. The firm has a 50 day simple moving average of $36.44 and a two-hundred day simple moving average of $32.91. Vita Coco has a twelve month low of $23.00 and a twelve month high of $40.32.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.