Westrock Coffee (NASDAQ:WEST) Shares Gap Up Following Insider Buying Activity

Shares of Westrock Coffee (NASDAQ:WEST) gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $6.55, but opened at $6.83. Westrock Coffee shares last traded at $6.80, with a volume of 45,419 shares traded.

Specifically, COO William A. Ford acquired 15,000 shares of Westrock Coffee stock in a transaction on Friday, March 14th. The stock was purchased at an average price of $6.45 per share, with a total value of $96,750.00. Following the completion of the purchase, the chief operating officer now owns 476,190 shares of the company’s stock, valued at approximately $3,071,425.50. The trade was a 3.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

WEST has been the subject of a number of research reports. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Westrock Coffee in a research note on Friday, March 14th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $9.00 target price on shares of Westrock Coffee in a research report on Wednesday, March 12th.

Westrock Coffee Stock Down 1.1 %

The stock has a fifty day moving average of $6.49 and a 200 day moving average of $6.78. The firm has a market capitalization of $614.11 million, a P/E ratio of -7.58 and a beta of 0.59. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73.

Institutional Trading of Westrock Coffee

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Westrock Coffee during the fourth quarter worth $37,000. KLP Kapitalforvaltning AS bought a new stake in Westrock Coffee during the fourth quarter worth $47,000. Atom Investors LP bought a new stake in Westrock Coffee during the third quarter worth $70,000. Intech Investment Management LLC bought a new stake in shares of Westrock Coffee in the third quarter valued at $71,000. Finally, Virtu Financial LLC bought a new stake in shares of Westrock Coffee in the fourth quarter valued at $83,000. 45.08% of the stock is currently owned by institutional investors.

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.