The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 5,690,000 shares, a decline of 7.6% from the May 31st total of 6,160,000 shares. Based on an average trading volume of 586,800 shares, the short-interest ratio is presently 9.7 days. Approximately 14.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Stephens restated an “overweight” rating and set a $31.00 target price on shares of Vita Coco in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.67.

Insiders Place Their Bets

In other news, Director John Zupo sold 5,017 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total transaction of $138,569.54. Following the completion of the transaction, the director now directly owns 8,247 shares of the company’s stock, valued at approximately $227,782.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John Zupo sold 5,017 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $27.62, for a total value of $138,569.54. Following the sale, the director now directly owns 8,247 shares in the company, valued at $227,782.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Es Charles Van sold 6,700 shares of Vita Coco stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $30.04, for a total value of $201,268.00. Following the sale, the insider now owns 97,668 shares of the company’s stock, valued at approximately $2,933,946.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,502 shares of company stock worth $814,205. Insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headinvest LLC acquired a new stake in Vita Coco during the third quarter worth about $29,000. Robeco Institutional Asset Management B.V. acquired a new stake in Vita Coco during the 4th quarter worth approximately $60,000. New York State Teachers Retirement System purchased a new position in Vita Coco in the first quarter valued at approximately $63,000. PNC Financial Services Group Inc. lifted its position in Vita Coco by 1,289.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $89,000 after buying an additional 3,210 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after buying an additional 919 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Trading Down 0.6 %

Shares of NASDAQ COCO traded down $0.16 on Wednesday, reaching $27.85. 182,656 shares of the company traded hands, compared to its average volume of 678,279. The company has a 50 day moving average of $27.38 and a 200 day moving average of $25.08. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $33.29. The stock has a market capitalization of $1.58 billion, a PE ratio of 30.27, a P/E/G ratio of 1.75 and a beta of 0.23.

Vita Coco (NASDAQ:COCO) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Vita Coco had a net margin of 10.93% and a return on equity of 26.27%. The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $111.72 million. During the same quarter last year, the firm posted $0.12 earnings per share. Vita Coco’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that Vita Coco will post 1.04 earnings per share for the current year.

About Vita Coco

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.