Mission Produce, Inc. (NASDAQ:AVO) Short Interest Update

Mission Produce, Inc. (NASDAQ:AVO) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,140,000 shares, a growth of 14.4% from the August 31st total of 996,500 shares. Based on an average daily trading volume, of 270,700 shares, the short-interest ratio is currently 4.2 days. Currently, 2.6% of the company’s stock are short sold.

Mission Produce Stock Performance

Shares of AVO stock traded down $0.08 during mid-day trading on Monday, hitting $12.87. The stock had a trading volume of 50,885 shares, compared to its average volume of 223,113. The firm has a market cap of $912.61 million, a PE ratio of 51.80 and a beta of 0.47. The company’s 50-day simple moving average is $11.31 and its 200-day simple moving average is $11.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40. Mission Produce has a fifty-two week low of $8.19 and a fifty-two week high of $13.62.

Analysts Set New Price Targets

AVO has been the topic of a number of recent research reports. Roth Mkm lifted their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital restated a “buy” rating and issued a $15.00 price target on shares of Mission Produce in a research report on Tuesday, September 10th.

Insider Activity at Mission Produce

In related news, Director Jay A. Pack sold 22,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $13.41, for a total value of $295,020.00. Following the completion of the sale, the director now directly owns 1,115,160 shares of the company’s stock, valued at $14,954,295.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Taylor Family Investments, Llc sold 100,100 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $13.25, for a total transaction of $1,326,325.00. Following the transaction, the director now directly owns 8,630,002 shares in the company, valued at $114,347,526.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jay A. Pack sold 22,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $13.41, for a total transaction of $295,020.00. Following the completion of the sale, the director now owns 1,115,160 shares of the company’s stock, valued at approximately $14,954,295.60. The disclosure for this sale can be found here. Insiders have sold 296,059 shares of company stock valued at $3,920,360 in the last ninety days. Insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Mission Produce

A number of hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its holdings in Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after acquiring an additional 3,112 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Mission Produce in the 2nd quarter valued at about $53,000. Point72 Asset Management L.P. acquired a new stake in shares of Mission Produce in the second quarter valued at about $53,000. nVerses Capital LLC purchased a new stake in Mission Produce during the second quarter worth about $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Mission Produce during the second quarter worth about $73,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.