The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 6,020,000 shares, a growth of 10.1% from the September 15th total of 5,470,000 shares. Based on an average daily volume of 549,200 shares, the days-to-cover ratio is currently 11.0 days. Approximately 15.7% of the company’s stock are short sold.

Vita Coco Price Performance

NASDAQ COCO traded down $0.46 during trading on Thursday, reaching $28.98. 197,973 shares of the company’s stock were exchanged, compared to its average volume of 621,904. The business has a 50 day moving average price of $26.94 and a 200-day moving average price of $26.73. The stock has a market capitalization of $1.64 billion, a P/E ratio of 31.50, a PEG ratio of 2.24 and a beta of 0.23. Vita Coco has a fifty-two week low of $19.41 and a fifty-two week high of $31.42.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The business had revenue of $144.00 million for the quarter, compared to analyst estimates of $144.08 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Vita Coco will post 1.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COCO. Bank of America raised their target price on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Wells Fargo & Company raised their price objective on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $28.00 in a report on Friday, July 12th. Finally, Jefferies Financial Group decreased their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vita Coco presently has an average rating of “Moderate Buy” and an average price target of $30.17.

Insider Buying and Selling at Vita Coco

In other news, COO Jonathan Burth sold 2,244 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the completion of the transaction, the chief operating officer now directly owns 124,605 shares of the company’s stock, valued at $3,739,396.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Large investors have recently modified their holdings of the stock. nVerses Capital LLC increased its stake in shares of Vita Coco by 271.4% during the second quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after purchasing an additional 1,900 shares during the period. CWM LLC grew its holdings in Vita Coco by 40.7% in the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Vita Coco by 1,289.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after buying an additional 919 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Vita Coco by 1,155.7% in the first quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after acquiring an additional 3,675 shares during the period. 88.49% of the stock is owned by institutional investors.

About Vita Coco

The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.