Westrock Coffee (NASDAQ:WEST) Stock Price Down 11.3% – Here’s Why

Westrock Coffee (NASDAQ:WEST)’s stock price dropped 11.3% during mid-day trading on Monday . The company traded as low as $6.44 and last traded at $6.41. Approximately 282,264 shares were traded during trading, an increase of 8% from the average daily volume of 260,767 shares. The stock had previously closed at $7.22.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group decreased their target price on Westrock Coffee from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday.

Westrock Coffee Stock Down 10.9 %

The firm’s 50 day simple moving average is $6.47 and its two-hundred day simple moving average is $6.89. The firm has a market cap of $605.63 million, a price-to-earnings ratio of -7.48 and a beta of 0.59. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41.

Institutional Investors Weigh In On Westrock Coffee

Large investors have recently added to or reduced their stakes in the stock. NFC Investments LLC raised its holdings in Westrock Coffee by 17.0% in the 3rd quarter. NFC Investments LLC now owns 4,044,207 shares of the company’s stock valued at $26,286,000 after acquiring an additional 588,160 shares in the last quarter. Vanguard Group Inc. raised its stake in Westrock Coffee by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 2,812,993 shares of the company’s stock valued at $18,059,000 after purchasing an additional 199,939 shares in the last quarter. Geode Capital Management LLC lifted its position in Westrock Coffee by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 841,226 shares of the company’s stock worth $5,402,000 after purchasing an additional 34,901 shares during the period. State Street Corp grew its stake in Westrock Coffee by 2.0% during the third quarter. State Street Corp now owns 649,553 shares of the company’s stock worth $4,222,000 after buying an additional 12,937 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Westrock Coffee by 198.9% in the 4th quarter. Millennium Management LLC now owns 589,450 shares of the company’s stock valued at $3,784,000 after buying an additional 392,214 shares during the period. Institutional investors and hedge funds own 45.08% of the company’s stock.

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.