Westrock Coffee (NASDAQ:WEST) Shares Cross Below Fifty Day Moving Average – Here’s Why

Westrock Coffee Company (NASDAQ:WEST)’s share price crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $8.55 and traded as low as $8.35. Westrock Coffee shares last traded at $8.40, with a volume of 397,868 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on WEST shares. Benchmark reissued a “buy” rating on shares of Westrock Coffee in a research note on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Westrock Coffee in a research note on Monday, November 2nd. Stifel Nicolaus set a $9.00 price objective on Westrock Coffee in a research note on Friday, August 7th. Finally, Telsey Advisory Group raised their price objective on shares of Westrock Coffee from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 6th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.67.

Westrock Coffee Price Performance

The company has a market cap of $820.09 million, a price-to-earnings ratio of -15.00 and a beta of 0.84. The business’s fifty day moving average price is $8.55 and its 200 day moving average price is $7.09.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $303.93 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.36%. As a group, equities research analysts anticipate that Westrock Coffee Company will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Westrock Coffee

Hedge funds have recently made changes to their positions in the stock. Group One Trading LLC bought a new position in Westrock Coffee during the 2nd quarter worth approximately $27,000. Legal & General Group Plc bought a new stake in shares of Westrock Coffee in the 2nd quarter valued at $30,000. Quantbot Technologies LP bought a new stake in shares of Westrock Coffee in the 2nd quarter valued at $39,000. Summit Asset Management LLC bought a new stake in shares of Westrock Coffee in the 2nd quarter valued at $87,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Westrock Coffee in the 2nd quarter valued at $88,000. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company is an integrated coffee and tea business based in Little Rock, Arkansas. It sources and processes coffee and tea and supplies beverages, ingredients, and flavor solutions to consumer brands, retailers, restaurants, and other foodservice customers. The company’s offerings include roasted and ground coffee, ready-to-drink beverages, tea, and customized beverage products. Its services span sourcing, product development, manufacturing, and packaging, helping customers bring branded and private-label products to market.