Coffee Holding Co., Inc. (NASDAQ:JVA) Shares Shorted: Short Interest Down 70.2% in September

Coffee Holding Co., Inc. (NASDAQ:JVA) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 8,068 shares, a decline of 70.2% from the September 15th total of 27,101 shares. Based on an average daily trading volume, of 49,918 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are sold short.

Coffee Stock Performance

Shares of NASDAQ JVA remained flat at $4.63 during midday trading on Monday. 52,603 shares of the company traded hands, compared to its average volume of 79,169. Coffee has a one year low of $2.93 and a one year high of $5.03. The company has a market capitalization of $26.44 million, a price-to-earnings ratio of 5.51 and a beta of 1.41. The firm has a 50-day moving average of $3.75 and a 200-day moving average of $3.93.

Coffee (NASDAQ:JVA) last issued its quarterly earnings data on Friday, September 11th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.01 by $0.34. The business had revenue of $21.69 million during the quarter, compared to analyst estimates of $23.00 million. Coffee had a net margin of 4.85% and a return on equity of 16.20%.

Coffee declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 7th that permits the company to repurchase $2.50 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11% of its stock through open market purchases. Share repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JVA. Weiss Ratings raised Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. DA Davidson set a $10.00 price target on shares of Coffee in a report on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Coffee stock. Empowered Funds LLC purchased a new stake in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,219 shares of the company’s stock, valued at approximately $141,000. Empowered Funds LLC owned approximately 0.74% of Coffee as of its most recent SEC filing.

About Coffee

Coffee Holding Co, Inc (NASDAQ:JVA) is a specialty coffee processor, roaster, packager and distributor headquartered in Staten Island, New York. The company supplies coffee products to retail, foodservice and private-label customers, offering roasted whole-bean and ground coffee as well as other coffee formats.

The company markets products under its own brands and also produces coffee for third-party customers. Its activities include sourcing green coffee beans, roasting and blending coffee, packaging finished products, and distributing them through grocery, foodservice and wholesale channels.

Coffee Holding was founded in 1975 and has expanded its business through branded products, private-label production and acquisitions.