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

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a significant drop in short interest in 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 shares of the stock are sold short. Based on an average trading volume of 475,000 shares, the days-to-cover ratio is currently 11.3 days.

Vita Coco Stock Down 2.2 %

COCO traded down $0.86 on Tuesday, hitting $39.11. The company had a trading volume of 545,662 shares, compared to its average volume of 539,357. The company has a market cap of $2.22 billion, a PE ratio of 39.51, a PEG ratio of 2.24 and a beta of 0.30. Vita Coco has a 12-month low of $20.64 and a 12-month high of $40.32. The business’s fifty day simple moving average is $36.59 and its 200 day simple moving average is $32.13.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Vita Coco

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $35.70, for a total transaction of $178,500.00. Following the sale, the chief executive officer now directly owns 407,152 shares of the company’s stock, valued at $14,535,326.40. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jonathan Burth sold 700 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $40.25, for a total value of $28,175.00. Following the transaction, the chief operating officer now owns 104,108 shares of the company’s stock, valued at approximately $4,190,347. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,435 shares of company stock valued at $4,741,510 over the last ninety days. 34.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Vita Coco by 84.9% during the fourth quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the period. Coppell Advisory Solutions LLC boosted its position in shares of Vita Coco by 91.5% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Vita Coco during the fourth quarter valued at approximately $52,000. Venturi Wealth Management LLC bought a new stake in shares of Vita Coco during the fourth quarter valued at approximately $66,000. Finally, Quest Partners LLC raised its stake in shares of Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after acquiring an additional 3,473 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About Vita Coco

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.