Farmer Brothers Company (NASDAQ:FARM) Sees Large Increase in Short Interest

Farmer Brothers Company (NASDAQ:FARM) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 77,691 shares, an increase of 165.1% from the February 26th total of 29,304 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 645,221 shares, the days-to-cover ratio is currently 0.1 days.

Farmer Brothers Price Performance

Shares of NASDAQ FARM remained flat at $1.25 during trading on Friday. The company’s stock had a trading volume of 223,688 shares, compared to its average volume of 222,464. The company has a market cap of $27.16 million, a PE ratio of -1.45 and a beta of 1.22. The company has a 50 day simple moving average of $1.46 and a two-hundred day simple moving average of $1.58. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.60. Farmer Brothers has a 1 year low of $1.21 and a 1 year high of $2.50.

Farmer Brothers (NASDAQ:FARM) last issued its quarterly earnings data on Friday, February 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08). Farmer Brothers had a negative return on equity of 30.38% and a negative net margin of 5.51%.The company had revenue of $88.92 million for the quarter, compared to the consensus estimate of $90.47 million. As a group, equities analysts predict that Farmer Brothers will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FARM. Goldman Sachs Group Inc. boosted its stake in shares of Farmer Brothers by 253.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 68,833 shares of the company’s stock valued at $153,000 after purchasing an additional 49,374 shares during the last quarter. Jane Street Group LLC raised its stake in Farmer Brothers by 152.2% during the first quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock worth $91,000 after buying an additional 24,820 shares during the last quarter. XTX Topco Ltd lifted its holdings in Farmer Brothers by 210.2% in the second quarter. XTX Topco Ltd now owns 42,297 shares of the company’s stock valued at $58,000 after buying an additional 28,661 shares during the period. Panagora Asset Management Inc. acquired a new position in Farmer Brothers in the second quarter valued at $26,000. Finally, Gabelli Funds LLC boosted its position in Farmer Brothers by 2.3% during the second quarter. Gabelli Funds LLC now owns 272,500 shares of the company’s stock valued at $373,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 64.48% of the company’s stock.

Analysts Set New Price Targets

FARM has been the topic of a number of research reports. Zacks Research raised shares of Farmer Brothers from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Farmer Brothers in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.75.

About Farmer Brothers

Farmer Brothers Company (NASDAQ: FARM) is a specialty coffee roaster and distributor that serves the foodservice, hospitality and office coffee markets across the United States. The company produces and delivers coffee, tea, single-serve products and beverage equipment, supporting its customers with supply chain solutions, equipment maintenance and barista training services. Its operations are organized to serve commercial accounts ranging from national restaurant chains and convenience stores to independent coffee shops and corporate offices.

Founded in 1912 in Texas, Farmer Brothers has grown from a regional roaster into a national supplier with a network of manufacturing and distribution facilities.