Farmer Bros. Co. (NASDAQ:FARM) Short Interest Down 31.3% in May

Farmer Bros. Co. (NASDAQ:FARM) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 104,100 shares, a drop of 31.3% from the May 15th total of 151,500 shares. Based on an average daily volume of 145,900 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on Farmer Bros. in a research note on Thursday, March 13th. They issued a “hold” rating on the stock.

Farmer Bros. Price Performance

FARM opened at $1.51 on Tuesday. The company has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.92. Farmer Bros. has a 52-week low of $1.43 and a 52-week high of $3.29. The company has a quick ratio of 0.60, a current ratio of 1.28 and a debt-to-equity ratio of 0.56. The company has a market cap of $32.55 million, a P/E ratio of -3.15 and a beta of 1.50.

Farmer Bros. (NASDAQ:FARM) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Farmer Bros. had a negative return on equity of 27.45% and a negative net margin of 2.92%. The business had revenue of $82.05 million for the quarter, compared to analysts’ expectations of $88.99 million. On average, analysts expect that Farmer Bros. will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Farmer Bros.

Large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Farmer Bros. in the 4th quarter worth approximately $29,000. XTX Topco Ltd acquired a new position in shares of Farmer Bros. during the fourth quarter worth $36,000. Prudential Financial Inc. purchased a new position in shares of Farmer Bros. in the fourth quarter valued at $48,000. Virtu Financial LLC grew its holdings in Farmer Bros. by 143.2% during the 1st quarter. Virtu Financial LLC now owns 31,756 shares of the company’s stock valued at $70,000 after purchasing an additional 18,699 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Farmer Bros. during the 4th quarter worth $69,000. Institutional investors and hedge funds own 64.48% of the company’s stock.

About Farmer Bros.

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.