The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Down 8.2% in January

The Vita Coco Company, Inc. (NASDAQ:COCO) was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,370,000 shares, a drop of 8.2% from the January 15th total of 5,850,000 shares. Approximately 13.9% of the company’s shares are sold short. Based on an average daily volume of 475,000 shares, the days-to-cover ratio is presently 11.3 days.

Insiders Place Their Bets

In other news, Director Ira Liran sold 20,235 shares of Vita Coco stock in a transaction on Friday, February 14th. The shares were sold at an average price of $40.07, for a total value of $810,816.45. Following the completion of the sale, the director now owns 814,302 shares in the company, valued at $32,629,081.14. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Jane Prior sold 3,888 shares of Vita Coco stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $37.01, for a total transaction of $143,894.88. Following the completion of the sale, the chief marketing officer now owns 131,834 shares of the company’s stock, valued at $4,879,176.34. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,435 shares of company stock worth $4,741,510. 34.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of COCO. GAMMA Investing LLC boosted its holdings in Vita Coco by 84.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco during the 4th quarter worth $52,000. Venturi Wealth Management LLC bought a new stake in shares of Vita Coco during the 4th quarter worth $66,000. Finally, Quest Partners LLC raised its stake 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 worth $99,000 after purchasing an additional 3,473 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COCO shares. Bank of America lifted their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens downgraded shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target for the company. in a research report on Monday, January 27th. Craig Hallum lifted their price target on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price target on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Vita Coco presently has a consensus rating of “Moderate Buy” and an average price target of $34.83.

Vita Coco Price Performance

COCO opened at $39.11 on Wednesday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 39.51, a P/E/G ratio of 2.24 and a beta of 0.30. The firm’s fifty day moving average price is $36.59 and its two-hundred day moving average price is $32.13. Vita Coco has a 1 year low of $20.64 and a 1 year high of $40.32.

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.