Farmer Bros. (NASDAQ:FARM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Farmer Bros. Co. (NASDAQ:FARM) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.06 and traded as high as $2.50. Farmer Bros. shares last traded at $2.26, with a volume of 325,779 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Farmer Bros. in a research note on Thursday, March 13th. They issued a “hold” rating on the stock.

Farmer Bros. Price Performance

The stock has a market capitalization of $48.26 million, a P/E ratio of -4.71 and a beta of 1.77. The company has a 50 day moving average of $2.23 and a 200-day moving average of $2.06. The company has a quick ratio of 0.60, a current ratio of 1.28 and a debt-to-equity ratio of 0.56.

Farmer Bros. (NASDAQ:FARM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.18. Farmer Bros. had a negative net margin of 2.92% and a negative return on equity of 27.45%. Sell-side analysts predict that Farmer Bros. Co. will post -0.37 EPS for the current year.

Institutional Trading of Farmer Bros.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Farmer Bros. by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock worth $414,000 after buying an additional 11,390 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Farmer Bros. during the fourth quarter valued at $69,000. Squarepoint Ops LLC grew its position in shares of Farmer Bros. by 67.1% during the fourth quarter. Squarepoint Ops LLC now owns 69,270 shares of the company’s stock worth $125,000 after acquiring an additional 27,805 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Farmer Bros. in the 4th quarter worth about $29,000. Finally, XTX Topco Ltd bought a new stake in Farmer Bros. in the 4th quarter valued at about $36,000. 64.48% of the stock is currently owned by institutional investors and hedge funds.

Farmer Bros. Company Profile

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.