The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Down 22.4% in February

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 3,670,000 shares, a decrease of 22.4% from the February 13th total of 4,730,000 shares. Approximately 9.4% of the company’s stock are short sold. Based on an average trading volume of 578,700 shares, the short-interest ratio is currently 6.3 days.

Vita Coco Stock Performance

NASDAQ COCO traded up $0.40 during trading on Monday, hitting $35.08. 103,211 shares of the company’s stock traded hands, compared to its average volume of 549,203. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 2.25 and a beta of 0.34. Vita Coco has a 12-month low of $23.00 and a 12-month high of $40.32. The business has a 50 day moving average of $36.19 and a 200-day moving average of $33.41.

Insiders Place Their Bets

In other Vita Coco news, CEO Martin F. Roper sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $36.37, for a total value of $181,850.00. Following the transaction, the chief executive officer now directly owns 337,152 shares of the company’s stock, valued at approximately $12,262,218.24. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the transaction, the director now owns 853,729 shares of the company’s stock, valued at $30,375,677.82. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,410 shares of company stock worth $2,664,461. Corporate insiders own 34.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased 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 raised its position in 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 purchasing an additional 613 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in Vita Coco in the 4th quarter worth approximately $52,000. Venturi Wealth Management LLC purchased a new stake in shares of Vita Coco in the 4th quarter valued at $66,000. Finally, Quest Partners LLC boosted its position in 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 buying an additional 3,473 shares during the period. 88.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on COCO shares. The Goldman Sachs Group upped their price objective on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wells Fargo & Company cut their target price on Vita Coco from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Stephens lowered Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price target on the stock. in a report on Monday, January 27th. Finally, Bank of America boosted their price objective on Vita Coco from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.14.

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.