The Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 5,640,000 shares, a decline of 6.3% from the September 30th total of 6,020,000 shares. Based on an average daily trading volume, of 484,700 shares, the short-interest ratio is currently 11.6 days. Approximately 14.7% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
A number of research firms have commented on COCO. Bank of America increased their price objective on shares of Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Craig Hallum lifted their price target on Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler lowered Vita Coco from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $28.00 in a report on Friday, July 12th. Wells Fargo & Company increased their target price on Vita Coco from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lowered their price target on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.00.
View Our Latest Research Report on COCO
Insider Buying and Selling
Institutional Trading of Vita Coco
A number of hedge funds and other institutional investors have recently made changes to their positions in COCO. PNC Financial Services Group Inc. grew its position in Vita Coco by 1,289.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after buying an additional 3,210 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Vita Coco by 31.0% during the 1st quarter. Principal Financial Group Inc. now owns 31,004 shares of the company’s stock worth $757,000 after acquiring an additional 7,330 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Vita Coco in the 1st quarter worth $1,028,000. Swiss National Bank raised its position in shares of Vita Coco by 19.1% during the first quarter. Swiss National Bank now owns 72,900 shares of the company’s stock worth $1,781,000 after purchasing an additional 11,700 shares during the period. Finally, William Blair Investment Management LLC raised its position in shares of Vita Coco by 0.7% during the first quarter. William Blair Investment Management LLC now owns 704,899 shares of the company’s stock worth $17,221,000 after purchasing an additional 4,895 shares during the period. 88.49% of the stock is currently owned by institutional investors.
Vita Coco Price Performance
Shares of NASDAQ COCO traded up $0.46 during midday trading on Thursday, reaching $30.02. 87,952 shares of the company traded hands, compared to its average volume of 612,934. The stock has a 50-day moving average price of $27.74 and a 200 day moving average price of $27.03. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.24 and a beta of 0.23. Vita Coco has a 52 week low of $19.41 and a 52 week high of $31.54.
Vita Coco (NASDAQ:COCO – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $133.00 million during the quarter, compared to analyst estimates of $138.56 million. Vita Coco had a return on equity of 26.42% and a net margin of 11.05%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. As a group, analysts expect that Vita Coco will post 1.05 EPS for the current year.
Vita Coco Company Profile
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.
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