Mission Produce (NASDAQ:AVO) Stock Price Down 2.8% – Should You Sell?

Mission Produce, Inc. (NASDAQ:AVO) shares were down 2.8% on Tuesday . The stock traded as low as $14.00 and last traded at $14.04. Approximately 83,719 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 235,267 shares. The stock had previously closed at $14.44.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Mission Produce in a research note on Tuesday, September 10th. Roth Mkm increased their price target on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

Mission Produce Trading Down 1.2 %

The stock has a market cap of $1.01 billion, a PE ratio of 43.21 and a beta of 0.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. The stock has a fifty day moving average price of $12.88 and a 200 day moving average price of $11.70.

Hedge Funds Weigh In On Mission Produce

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Mission Produce by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock worth $13,113,000 after acquiring an additional 266,489 shares during the last quarter. Geode Capital Management LLC increased its stake in Mission Produce by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,076,007 shares of the company’s stock worth $13,797,000 after purchasing an additional 22,090 shares during the period. Marshall Wace LLP lifted its position in shares of Mission Produce by 202.1% during the second quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock worth $2,125,000 after purchasing an additional 143,858 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Mission Produce by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 161,591 shares of the company’s stock valued at $1,597,000 after purchasing an additional 4,160 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Mission Produce by 171.9% during the third quarter. Jane Street Group LLC now owns 158,257 shares of the company’s stock valued at $2,029,000 after purchasing an additional 100,055 shares during the period. 63.57% of the stock is owned by hedge funds and other institutional investors.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.