Westrock Coffee (NASDAQ:WEST) Stock Price Down 5.1% – Here’s What Happened

Westrock Coffee (NASDAQ:WEST)’s stock price dropped 5.1% on Wednesday . The company traded as low as $6.45 and last traded at $6.42. Approximately 100,890 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 248,102 shares. The stock had previously closed at $6.76.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reduced their price objective on Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 8th.

Westrock Coffee Price Performance

The stock has a market cap of $604.70 million, a P/E ratio of -7.47 and a beta of 0.57. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The business’s 50 day moving average price is $6.79 and its two-hundred day moving average price is $7.38.

Insiders Place Their Bets

In other Westrock Coffee news, Director Kenneth M. Parent purchased 62,735 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of $8.07 per share, for a total transaction of $506,271.45. Following the completion of the purchase, the director now directly owns 112,451 shares of the company’s stock, valued at $907,479.57. This trade represents a 126.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. NFC Investments LLC grew its position in shares of Westrock Coffee by 17.0% during the third quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock worth $26,286,000 after purchasing an additional 588,160 shares in the last quarter. Geode Capital Management LLC grew its holdings in Westrock Coffee by 5.7% during the 3rd quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock valued at $5,242,000 after buying an additional 43,731 shares in the last quarter. State Street Corp grew its holdings in Westrock Coffee by 2.0% during the 3rd quarter. State Street Corp now owns 649,553 shares of the company’s stock valued at $4,222,000 after buying an additional 12,937 shares in the last quarter. Principal Street Partners LLC raised its position in shares of Westrock Coffee by 100.0% during the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after buying an additional 195,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Westrock Coffee by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 282,643 shares of the company’s stock worth $1,837,000 after buying an additional 22,945 shares in the last quarter. 45.08% of the stock is owned by hedge funds and other institutional investors.

About Westrock Coffee

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.