Westrock Coffee (NASDAQ:WEST) Trading 3.5% Higher – Here’s What Happened

Westrock Coffee (NASDAQ:WEST)’s share price was up 3.5% during mid-day trading on Friday . The company traded as high as $6.77 and last traded at $6.75. Approximately 105,356 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 266,936 shares. The stock had previously closed at $6.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WEST shares. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Westrock Coffee in a research note on Friday, March 14th. Telsey Advisory Group restated an “outperform” rating and issued a $9.00 price objective on shares of Westrock Coffee in a report on Wednesday, March 12th.

Westrock Coffee Stock Up 3.7 %

The company has a quick ratio of 0.73, a current ratio of 1.39 and a debt-to-equity ratio of 3.41. The stock has a market cap of $636.81 million, a price-to-earnings ratio of -7.88 and a beta of 0.59. The business’s fifty day moving average is $6.49 and its two-hundred day moving average is $6.78.

Insider Activity at Westrock Coffee

In other news, COO William A. Ford purchased 15,000 shares of the stock in a transaction on Friday, March 14th. The stock was bought at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the acquisition, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at approximately $3,071,425.50. The trade was a 3.25 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stephens Inc. AR grew its holdings in Westrock Coffee by 54.8% during the 4th quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock worth $1,517,000 after acquiring an additional 83,647 shares in the last quarter. Barclays PLC grew its holdings in Westrock Coffee by 363.9% during the 3rd quarter. Barclays PLC now owns 57,357 shares of the company’s stock worth $373,000 after acquiring an additional 44,993 shares in the last quarter. State Street Corp boosted its holdings in shares of Westrock Coffee by 2.0% in the 3rd quarter. State Street Corp now owns 649,553 shares of the company’s stock valued at $4,222,000 after buying an additional 12,937 shares in the last quarter. Principal Street Partners LLC boosted its holdings in shares of Westrock Coffee by 100.0% in the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after buying an additional 195,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Westrock Coffee by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock valued at $5,242,000 after buying an additional 43,731 shares in the last quarter. Institutional investors and hedge funds own 45.08% of the company’s stock.

Westrock Coffee Company Profile

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.