Westrock Coffee (NASDAQ:WEST) Stock Price Down 4% – What’s Next?

Shares of Westrock Coffee (NASDAQ:WEST) were down 4% during mid-day trading on Wednesday . The stock traded as low as $6.03 and last traded at $6.03. Approximately 130,045 shares changed hands during trading, a decline of 50% from the average daily volume of 261,226 shares. The stock had previously closed at $6.28.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Westrock Coffee in a report on Monday, October 7th. They set a “buy” rating and a $10.00 price target for the company. Craig Hallum began coverage on shares of Westrock Coffee in a research note on Monday, September 23rd. They issued a “buy” rating and a $13.00 target price for the company. Finally, Telsey Advisory Group decreased their price target on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

Westrock Coffee Stock Performance

The stock’s 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $7.71. The company has a market capitalization of $595.28 million, a P/E ratio of -7.35 and a beta of 0.55. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73.

Insider Buying and Selling

In other news, Director Kenneth M. Parent bought 62,735 shares of the stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $8.07 per share, with a total value of $506,271.45. Following the purchase, the director now owns 112,451 shares of the company’s stock, valued at approximately $907,479.57. This represents a 126.19 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 42.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Westrock Coffee

Several large investors have recently made changes to their positions in WEST. NFC Investments LLC increased its position in Westrock Coffee by 17.0% in the third quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock worth $26,286,000 after purchasing an additional 588,160 shares during the period. Principal Street Partners LLC boosted its stake 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 purchasing an additional 195,800 shares during the last quarter. Repertoire Partners LP acquired a new stake in shares of Westrock Coffee during the 3rd quarter worth approximately $650,000. Quest Partners LLC raised its stake in shares of Westrock Coffee by 32,869.0% during the third quarter. Quest Partners LLC now owns 60,663 shares of the company’s stock worth $394,000 after buying an additional 60,479 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Westrock Coffee by 363.9% in the third quarter. Barclays PLC now owns 57,357 shares of the company’s stock valued at $373,000 after buying an additional 44,993 shares during the period. Institutional investors and hedge funds own 45.08% of the company’s stock.

About Westrock Coffee

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.