Farmer Bros. Co. (NASDAQ:FARM) Short Interest Down 74.6% in February

Farmer Bros. Co. (NASDAQ:FARM) was the target of a large decrease in short interest in February. As of February 28th, there was short interest totalling 155,600 shares, a decrease of 74.6% from the February 13th total of 612,400 shares. Based on an average trading volume of 692,800 shares, the days-to-cover ratio is presently 0.2 days. Currently, 1.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Farmer Bros.

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Farmer Bros. by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock worth $414,000 after acquiring an additional 11,390 shares during the period. Prudential Financial Inc. bought a new stake in shares of Farmer Bros. during the 4th quarter worth $48,000. Renaissance Technologies LLC raised its holdings in shares of Farmer Bros. by 7.2% during the fourth quarter. Renaissance Technologies LLC now owns 594,800 shares of the company’s stock valued at $1,071,000 after acquiring an additional 40,200 shares during the period. XTX Topco Ltd purchased a new position in Farmer Bros. in the fourth quarter valued at about $36,000. Finally, Penn Capital Management Company LLC boosted its holdings in shares of Farmer Bros. by 28.6% during the 4th quarter. Penn Capital Management Company LLC now owns 1,327,831 shares of the company’s stock worth $2,390,000 after buying an additional 295,280 shares during the period. 64.48% of the stock is currently owned by institutional investors.

Farmer Bros. Trading Up 0.6 %

Farmer Bros. stock opened at $2.36 on Thursday. The stock has a market cap of $50.29 million, a PE ratio of -4.91 and a beta of 1.76. The company has a current ratio of 1.28, a quick ratio of 0.60 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $2.11 and a 200 day moving average price of $2.10. Farmer Bros. has a 52 week low of $1.60 and a 52 week high of $3.76.

Farmer Bros. (NASDAQ:FARM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities research analysts predict that Farmer Bros. will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Farmer Bros. in a report on Thursday. They issued a “hold” rating for the company.

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.