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

Farmer Brothers Company (NASDAQ:FARM) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 29,304 shares, a drop of 70.9% from the February 12th total of 100,684 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 54,844 shares, the short-interest ratio is presently 0.5 days. Based on an average trading volume of 54,844 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the shares of the company are sold short.

Farmer Brothers Price Performance

NASDAQ FARM traded up $0.01 during trading hours on Friday, reaching $1.25. The company’s stock had a trading volume of 303,136 shares, compared to its average volume of 185,280. The firm has a market capitalization of $27.05 million, a price-to-earnings ratio of -1.45 and a beta of 1.22. The company’s 50-day moving average is $1.52 and its two-hundred day moving average is $1.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.27 and a quick ratio of 0.52. Farmer Brothers has a 1-year low of $1.22 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) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.08). The business had revenue of $88.92 million during the quarter, compared to analyst estimates of $90.47 million. Farmer Brothers had a negative net margin of 5.51% and a negative return on equity of 30.38%. On average, equities analysts predict that Farmer Brothers will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. acquired a new position in shares of Farmer Brothers during the 2nd quarter worth approximately $26,000. XTX Topco Ltd increased its holdings in shares of Farmer Brothers by 56.8% in the fourth quarter. XTX Topco Ltd now owns 34,442 shares of the company’s stock valued at $50,000 after purchasing an additional 12,470 shares during the last quarter. Beartown Capital Management LLC purchased a new position in Farmer Brothers during the fourth quarter worth approximately $79,000. Jane Street Group LLC lifted its position 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 in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in Farmer Brothers by 54.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 66,147 shares of the company’s stock worth $97,000 after buying an additional 23,247 shares during the last quarter. 64.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FARM has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Farmer Brothers in a report on Monday, December 29th. Roth Mkm dropped their price objective on shares of Farmer Brothers from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, Zacks Research raised shares of Farmer Brothers from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.