Vita Coco (NASDAQ:COCO) Shares Gap Down – Should You Sell?

The Vita Coco Company, Inc. (NASDAQ:COCO) gapped down prior to trading on Wednesday . The stock had previously closed at $38.16, but opened at $33.22. Vita Coco shares last traded at $34.00, with a volume of 498,118 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Stephens lowered shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a report on Monday, January 27th. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America upped their target price on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their price target on Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Vita Coco Trading Down 8.8 %

The company’s 50 day moving average price is $36.79 and its two-hundred day moving average price is $32.65. The stock has a market cap of $1.98 billion, a P/E ratio of 35.13, a PEG ratio of 2.25 and a beta of 0.30.

Vita Coco (NASDAQ:COCO) last released its earnings results on Wednesday, February 26th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. On average, sell-side analysts anticipate that The Vita Coco Company, Inc. will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Vita Coco

In related news, COO Jonathan Burth sold 700 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the completion of the sale, the chief operating officer now owns 104,108 shares of the company’s stock, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Martin F. Roper sold 5,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $35.54, for a total transaction of $177,700.00. Following the completion of the transaction, the chief executive officer now owns 392,152 shares in the company, valued at $13,937,082.08. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,270 shares of company stock worth $4,488,069. Company insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the period. Coppell Advisory Solutions LLC raised its position in shares of Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco in the 4th quarter valued at approximately $66,000. Finally, Quest Partners LLC lifted its position in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after purchasing an additional 3,473 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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.