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

Farmer Brothers Company (NASDAQ:FARM) saw a large decline in short interest in January. As of January 30th, there was short interest totaling 44,530 shares, a decline of 17.8% from the January 15th total of 54,204 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 62,423 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 62,423 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FARM. Gabelli Funds LLC boosted its position in shares of Farmer Brothers by 2.3% during the 2nd 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. Gamco Investors INC. ET AL raised its stake in Farmer Brothers by 1.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 787,000 shares of the company’s stock worth $1,149,000 after purchasing an additional 7,500 shares during the period. Panagora Asset Management Inc. acquired a new position in Farmer Brothers in the 2nd quarter valued at about $26,000. Jane Street Group LLC boosted its holdings in Farmer Brothers by 152.2% in the 1st quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock valued at $91,000 after purchasing an additional 24,820 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Farmer Brothers by 210.2% in the 2nd 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. Hedge funds and other institutional investors own 64.48% of the company’s stock.

Farmer Brothers Price Performance

NASDAQ FARM traded down $0.06 during trading hours on Monday, hitting $1.54. 332,108 shares of the company’s stock traded hands, compared to its average volume of 88,627. The company has a market capitalization of $33.26 million, a PE ratio of -1.79 and a beta of 1.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.46. Farmer Brothers has a 52-week low of $1.34 and a 52-week high of $3.29. The firm’s 50-day moving average is $1.56 and its 200-day moving average is $1.68.

Farmer Brothers (NASDAQ:FARM) last issued its earnings results on Friday, February 13th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.08). The company had revenue of $88.92 million for the quarter, compared to analyst estimates of $90.47 million. Farmer Brothers had a negative return on equity of 29.51% and a negative net margin of 5.51%. Equities analysts forecast that Farmer Brothers will post -0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Roth Mkm dropped their target price on shares of Farmer Brothers from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Farmer Brothers in a research note on Monday, December 29th. Finally, Zacks Research upgraded Farmer Brothers from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.75.

Farmer Brothers Company Profile

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.