Westrock Coffee (NASDAQ:WEST) Stock Jumps 7.9% – Should You Buy?

Westrock Coffee Company (NASDAQ:WEST)’s stock price traded up 7.9% during trading on Thursday. The company traded as high as $9.79 and last traded at $9.8840. Approximately 47,705 shares changed hands during trading, a decline of 90% from the average session volume of 485,363 shares. The stock had previously closed at $9.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WEST shares. Stifel Nicolaus set a $9.00 target price on shares of Westrock Coffee in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Westrock Coffee in a research note on Tuesday, August 4th. Benchmark reissued a “buy” rating on shares of Westrock Coffee in a research report on Monday, August 31st. Finally, Telsey Advisory Group boosted their target price on Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Westrock Coffee Trading Up 2.0%

The firm’s 50 day simple moving average is $8.17 and its 200-day simple moving average is $7.73. The stock has a market capitalization of $964.58 million, a price-to-earnings ratio of -14.97 and a beta of 0.88.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. The business had revenue of $305.66 million for the quarter, compared to analyst estimates of $318.80 million. As a group, equities research analysts predict that Westrock Coffee Company will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WEST. BlackRock Inc. acquired a new position in shares of Westrock Coffee in the second quarter valued at $22,500,000. State Street Corp lifted its stake in shares of Westrock Coffee by 3.7% during the 2nd quarter. State Street Corp now owns 793,823 shares of the company’s stock worth $6,438,000 after buying an additional 28,318 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Westrock Coffee during the 2nd quarter worth about $3,049,000. Algert Global LLC bought a new stake in shares of Westrock Coffee during the 2nd quarter worth about $2,816,000. Finally, Citadel Advisors LLC lifted its position in Westrock Coffee by 19.3% during the second quarter. Citadel Advisors LLC now owns 218,376 shares of the company’s stock worth $1,771,000 after acquiring an additional 35,328 shares during the last quarter. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company is a global provider of integrated coffee, tea, flavors, extracts and ready-to-drink beverage solutions. The company sources raw materials from producing regions, then provides processing, roasting, blending, extraction, packaging and distribution services for beverage brands and other commercial customers.

Its products and services support a range of beverage formats, including roasted and ground coffee, single-serve coffee, tea, liquid coffee and tea extracts, ready-to-drink beverages, and customized flavor systems.