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

Westrock Coffee (NASDAQ:WEST) rose 3.5% during mid-day trading on Friday . The stock 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.

Analyst Upgrades and Downgrades

WEST has been the topic of several recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a research note on Wednesday, March 12th. Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Westrock Coffee in a research note on Friday, March 14th.

Westrock Coffee Stock Up 5.7 %

The firm’s 50 day moving average is $6.51 and its two-hundred day moving average is $6.77. The firm has a market cap of $648.96 million, a P/E ratio of -8.01 and a beta of 0.59. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.

Insider Buying and Selling

In other news, COO William A. Ford acquired 15,000 shares of Westrock Coffee stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average price of $6.45 per share, with a total value of $96,750.00. Following the purchase, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at $3,071,425.50. The trade was a 3.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 42.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC raised its holdings in Westrock Coffee by 32,869.0% during the 3rd 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 period. Intech Investment Management LLC acquired a new stake in Westrock Coffee during the 3rd quarter worth approximately $71,000. Charles Schwab Investment Management Inc. raised its holdings in Westrock Coffee by 8.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 282,643 shares of the company’s stock worth $1,837,000 after buying an additional 22,945 shares during the period. Principal Street Partners LLC raised its holdings in Westrock Coffee by 100.0% during the 3rd quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock worth $2,546,000 after buying an additional 195,800 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Westrock Coffee during the 3rd quarter worth approximately $121,000. Institutional investors 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.