Farmer Bros. Co. (NASDAQ:FARM) Short Interest Update

Farmer Bros. Co. (NASDAQ:FARM) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 126,800 shares, a drop of 18.5% from the February 28th total of 155,600 shares. Based on an average daily volume of 719,400 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.8% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FARM. Geode Capital Management LLC raised its holdings in shares of Farmer Bros. by 5.8% during the third quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock valued at $414,000 after acquiring an additional 11,390 shares during the period. Prudential Financial Inc. purchased a new stake in shares of Farmer Bros. in the fourth quarter valued at $48,000. Renaissance Technologies LLC boosted its position in shares of Farmer Bros. by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 594,800 shares of the company’s stock worth $1,071,000 after buying an additional 40,200 shares during the period. XTX Topco Ltd acquired a new stake in shares of Farmer Bros. in the fourth quarter worth $36,000. Finally, Penn Capital Management Company LLC grew its holdings in shares of Farmer Bros. by 28.6% during the fourth quarter. Penn Capital Management Company LLC now owns 1,327,831 shares of the company’s stock valued at $2,390,000 after buying an additional 295,280 shares in the last quarter. 64.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Farmer Bros. in a report on Thursday, March 13th. They issued a “hold” rating for the company.

Farmer Bros. Price Performance

Farmer Bros. stock traded up $0.04 during mid-day trading on Wednesday, hitting $2.25. The company’s stock had a trading volume of 92,925 shares, compared to its average volume of 235,371. Farmer Bros. has a twelve month low of $1.60 and a twelve month high of $3.70. The stock’s fifty day moving average price is $2.25 and its two-hundred day moving average price is $2.05. The stock has a market capitalization of $48.05 million, a P/E ratio of -4.69 and a beta of 1.77. The company has a quick ratio of 0.60, a current ratio of 1.28 and a debt-to-equity ratio of 0.56.

Farmer Bros. (NASDAQ:FARM) last announced its earnings results on Thursday, February 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.18. Farmer Bros. had a negative return on equity of 27.45% and a negative net margin of 2.92%. Research analysts forecast that Farmer Bros. will post -0.37 earnings per share for the current year.

About Farmer Bros.

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.