The Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) 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 – Get Free Report) 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
Check Out Our Latest Stock Report on Vita Coco
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.
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