Westrock Coffee (NASDAQ:WEST) Stock Price Down 5.3% – Time to Sell?

Shares of Westrock Coffee (NASDAQ:WEST) fell 5.3% during mid-day trading on Monday . The stock traded as low as $6.24 and last traded at $6.24. 152,779 shares were traded during mid-day trading, a decline of 32% from the average session volume of 225,226 shares. The stock had previously closed at $6.59.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WEST shares. Telsey Advisory Group decreased their target price on shares of Westrock Coffee from $14.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Truist Financial began coverage on Westrock Coffee in a research report on Monday, October 7th. They set a “buy” rating and a $10.00 price objective for the company. Finally, Craig Hallum initiated coverage on Westrock Coffee in a research report on Monday, September 23rd. They issued a “buy” rating and a $13.00 target price on the stock.

Westrock Coffee Price Performance

The firm has a 50 day moving average price of $7.04 and a 200 day moving average price of $7.92. The stock has a market capitalization of $570.78 million, a PE ratio of -7.05 and a beta of 0.55. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.

Insider Buying and Selling at Westrock Coffee

In other news, Director Kenneth M. Parent purchased 62,735 shares of the stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of $8.07 per share, with a total value of $506,271.45. Following the completion of the acquisition, 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 is available through the SEC website. 42.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westrock Coffee

Hedge funds and other institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Westrock Coffee by 26.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 24,578 shares of the company’s stock worth $159,000 after buying an additional 5,200 shares during the period. Arvest Bank Trust Division purchased a new position in shares of Westrock Coffee in the third quarter valued at about $115,000. Barclays PLC boosted its stake in shares of Westrock Coffee by 363.9% in the third quarter. Barclays PLC now owns 57,357 shares of the company’s stock worth $373,000 after acquiring an additional 44,993 shares during the period. Geode Capital Management LLC grew its position in shares of Westrock Coffee by 5.7% during the third quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock worth $5,242,000 after purchasing an additional 43,731 shares in the last quarter. Finally, State Street Corp raised its stake 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 purchasing an additional 12,937 shares during the period. 45.08% of the stock is owned by hedge funds and other institutional investors.

Westrock Coffee Company Profile

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.