Mission Produce, Inc. (NASDAQ:AVO) Sees Significant Decrease in Short Interest

Mission Produce, Inc. (NASDAQ:AVO) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 1,300,000 shares, a decline of 12.2% from the December 15th total of 1,480,000 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 308,500 shares, the days-to-cover ratio is currently 4.2 days.

Mission Produce Stock Down 0.3 %

AVO stock traded down $0.04 during mid-day trading on Friday, hitting $12.49. 262,481 shares of the company were exchanged, compared to its average volume of 398,235. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.26 and a current ratio of 1.87. Mission Produce has a 1-year low of $9.54 and a 1-year high of $15.25. The firm’s 50 day simple moving average is $13.28 and its 200 day simple moving average is $12.08. The firm has a market cap of $885.79 million, a P/E ratio of 24.49 and a beta of 0.50.

Insiders Place Their Bets

In other Mission Produce news, Director Jay A. Pack sold 59,165 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $14.70, for a total value of $869,725.50. Following the transaction, the director now directly owns 1,015,160 shares of the company’s stock, valued at approximately $14,922,852. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen J. Barnard sold 103,847 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $14.53, for a total value of $1,508,896.91. Following the completion of the transaction, the chief executive officer now directly owns 1,790,966 shares in the company, valued at $26,022,735.98. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,252 shares of company stock valued at $3,256,786. 41.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mission Produce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Mission Produce in the second quarter valued at about $53,000. Point72 DIFC Ltd bought a new position in shares of Mission Produce during the 2nd quarter worth approximately $53,000. Quantbot Technologies LP acquired a new stake in shares of Mission Produce in the third quarter valued at approximately $76,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Mission Produce during the second quarter worth $73,000. Finally, Quarry LP acquired a new stake in Mission Produce in the 3rd quarter valued at $114,000. 63.57% of the stock is owned by institutional investors and hedge funds.

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.