Westrock Coffee (NASDAQ:WEST) Trading 3.5% Higher – Here’s What Happened

Westrock Coffee (NASDAQ:WEST) traded up 3.5% during mid-day trading on Friday . The stock traded as high as $6.77 and last traded at $6.75. 105,356 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 266,936 shares. The stock had previously closed at $6.52.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a research report on Wednesday, March 12th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Westrock Coffee in a research report on Friday, March 14th.

Westrock Coffee Trading Up 3.7 %

The company’s 50 day moving average price is $6.49 and its two-hundred day moving average price is $6.78. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The stock has a market capitalization of $636.81 million, a PE ratio of -7.88 and a beta of 0.59.

Insider Transactions at Westrock Coffee

In other news, COO William A. Ford bought 15,000 shares of Westrock Coffee stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $6.45 per share, with a total value of $96,750.00. Following the completion of the purchase, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at approximately $3,071,425.50. This trade represents a 3.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Westrock Coffee during the fourth quarter worth about $37,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Westrock Coffee in the 4th quarter valued at approximately $47,000. Atom Investors LP purchased a new stake in shares of Westrock Coffee in the 3rd quarter valued at approximately $70,000. Intech Investment Management LLC purchased a new stake in shares of Westrock Coffee in the 3rd quarter valued at approximately $71,000. Finally, Virtu Financial LLC purchased a new stake in shares of Westrock Coffee in the 4th quarter valued at approximately $83,000. 45.08% of the stock is owned by hedge funds and other institutional investors.

About Westrock Coffee

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.