Coffee Holding Co., Inc. (NASDAQ:JVA) Shares Shorted: Short Interest Up 67.6% in October

Coffee Holding Co., Inc. (NASDAQ:JVA) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 13,526 shares, an increase of 67.6% from the September 30th total of 8,068 shares. Based on an average daily volume of 82,316 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Coffee to a “buy” rating in a report on Saturday, October 24th. DA Davidson set a $10.00 price objective on shares of Coffee in a report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Coffee from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.50.

Coffee Price Performance

JVA opened at $5.04 on Wednesday. Coffee has a 1-year low of $2.93 and a 1-year high of $5.20. The stock has a market cap of $28.78 million, a P/E ratio of 6.00 and a beta of 1.42. The stock’s 50 day simple moving average is $4.18 and its 200 day simple moving average is $3.88.

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

Coffee announced that its board has authorized a stock buyback plan on Wednesday, October 7th that permits the company to buy back $2.50 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11% of its shares through open market purchases. Share repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Coffee stock. Clear Point Advisors Inc. acquired a new position in Coffee Holding Co., Inc. (NASDAQ:JVA) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 19,968 shares of the company’s stock, valued at approximately $78,000. Clear Point Advisors Inc. owned approximately 0.35% of Coffee as of its most recent SEC filing.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.