Westrock Coffee (NASDAQ:WEST) Stock Price Up 15.4% – Here’s Why

Westrock Coffee (NASDAQ:WEST) was up 15.4% during mid-day trading on Friday . The company traded as high as $6.59 and last traded at $6.36. Approximately 147,224 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 263,991 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WEST shares. Telsey Advisory Group reissued an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a research report on Wednesday. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Westrock Coffee in a research report on Friday.

Westrock Coffee Price Performance

The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The company has a 50-day simple moving average of $6.45 and a 200-day simple moving average of $6.84. The stock has a market cap of $643.30 million, a PE ratio of -7.91 and a beta of 0.59.

Institutional Trading of Westrock Coffee

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Westrock Coffee by 44.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,851 shares of the company’s stock worth $397,000 after buying an additional 18,972 shares during the period. Sovereign s Capital Management LLC acquired a new stake in shares of Westrock Coffee in the 4th quarter worth approximately $465,000. Millennium Management LLC increased its stake 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 purchasing an additional 392,214 shares in the last quarter. Deutsche Bank AG raised its holdings in Westrock Coffee by 88.3% during the fourth quarter. Deutsche Bank AG now owns 42,294 shares of the company’s stock worth $272,000 after purchasing an additional 19,829 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Westrock Coffee during the fourth quarter worth $353,000. 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.