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

Mission Produce, Inc. (NASDAQ:AVO) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 1,370,000 shares, a growth of 8.7% from the November 15th total of 1,260,000 shares. Based on an average trading volume of 324,300 shares, the days-to-cover ratio is currently 4.2 days. Approximately 3.0% of the company’s stock are short sold.

Insider Transactions at Mission Produce

In related news, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the sale, the director now owns 8,630,002 shares of the company’s stock, valued at approximately $114,347,526.50. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay A. Pack sold 72,054 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $13.30, for a total value of $958,318.20. Following the transaction, the director now directly owns 384,823 shares of the company’s stock, valued at $5,118,145.90. This trade represents a 15.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 194,154 shares of company stock valued at $2,579,663 in the last ninety days. 41.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mission Produce

A number of large investors have recently added to or reduced their stakes in AVO. Point72 Asset Management L.P. bought a new position in Mission Produce during the second quarter worth $53,000. Point72 DIFC Ltd acquired a new stake in shares of Mission Produce during the 2nd quarter worth about $53,000. nVerses Capital LLC bought a new stake in shares of Mission Produce during the 2nd quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Mission Produce in the 2nd quarter valued at about $73,000. Finally, Quantbot Technologies LP bought a new position in Mission Produce in the 3rd quarter valued at about $76,000. Institutional investors own 63.57% of the company’s stock.

Mission Produce Stock Performance

AVO opened at $13.16 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 0.28. Mission Produce has a 12-month low of $8.76 and a 12-month high of $14.17. The business has a 50 day moving average of $12.74 and a 200-day moving average of $11.63. The stock has a market cap of $933.19 million, a price-to-earnings ratio of 39.88 and a beta of 0.54.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Lake Street Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm increased their price target on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

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.