The Vita Coco Company, Inc. (NASDAQ:COCO) Sees Large Decline in Short Interest

The Vita Coco Company, Inc. (NASDAQ:COCO) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 4,730,000 shares, a decline of 11.9% from the January 31st total of 5,370,000 shares. Based on an average daily trading volume, of 529,900 shares, the short-interest ratio is currently 8.9 days. Currently, 12.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COCO. The Goldman Sachs Group boosted their price target on Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Stephens cut Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price for the company. in a report on Monday, January 27th. Bank of America upped their target price on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company lowered their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.14.

Vita Coco Trading Down 2.7 %

NASDAQ COCO opened at $32.16 on Friday. The business’s 50-day moving average price is $36.35 and its two-hundred day moving average price is $32.90. Vita Coco has a 12 month low of $23.00 and a 12 month high of $40.32. The firm has a market capitalization of $1.83 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34.

Insider Transactions at Vita Coco

In other news, Director Ira Liran sold 1,723 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $40.02, for a total transaction of $68,954.46. Following the completion of the transaction, the director now owns 812,579 shares of the company’s stock, valued at approximately $32,519,411.58. The trade was a 0.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 10,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $32.69, for a total value of $326,900.00. Following the transaction, the chief operating officer now directly owns 94,108 shares of the company’s stock, valued at $3,076,390.52. This trade represents a 9.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,632 shares of company stock valued at $3,605,468. Corporate insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of institutional investors have recently made changes to their positions in COCO. US Bancorp DE grew its position in shares of Vita Coco by 8.5% in the 3rd quarter. US Bancorp DE now owns 14,968 shares of the company’s stock valued at $424,000 after buying an additional 1,178 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Vita Coco by 106.4% during the 3rd quarter. Victory Capital Management Inc. now owns 895,716 shares of the company’s stock valued at $25,358,000 after purchasing an additional 461,748 shares in the last quarter. Quest Partners LLC boosted its position in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after purchasing an additional 3,473 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Vita Coco during the 3rd quarter valued at about $1,145,000. Finally, Moran Wealth Management LLC boosted its position in shares of Vita Coco by 43.5% during the 3rd quarter. Moran Wealth Management LLC now owns 18,204 shares of the company’s stock valued at $515,000 after purchasing an additional 5,517 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Company Profile

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.