The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCOGet Rating) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,240,000 shares, a growth of 8.2% from the August 15th total of 2,070,000 shares. Approximately 9.4% of the shares of the company are short sold. Based on an average daily trading volume, of 330,100 shares, the short-interest ratio is presently 6.8 days.

Vita Coco Trading Down 2.1 %

Vita Coco stock opened at $12.98 on Tuesday. The stock has a market cap of $722.39 million and a P/E ratio of 54.09. Vita Coco has a fifty-two week low of $7.51 and a fifty-two week high of $18.61. The firm’s fifty day moving average price is $13.49 and its 200-day moving average price is $11.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.88 and a current ratio of 2.99.

Vita Coco (NASDAQ:COCOGet Rating) last released its earnings results on Wednesday, August 10th. The company reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $115.30 million for the quarter, compared to analysts’ expectations of $114.83 million. Vita Coco had a return on equity of 13.03% and a net margin of 3.13%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts forecast that Vita Coco will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

COCO has been the topic of several research analyst reports. Credit Suisse Group upped their price objective on Vita Coco from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Bank of America raised shares of Vita Coco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a report on Friday, July 8th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $15.43.

Insider Transactions at Vita Coco

In other news, CFO Kevin Benmoussa sold 56,875 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $12.76, for a total value of $725,725.00. Following the transaction, the chief financial officer now owns 10,150 shares in the company, valued at approximately $129,514. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kevin Benmoussa sold 56,875 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $12.76, for a total value of $725,725.00. Following the transaction, the chief financial officer now owns 10,150 shares in the company, valued at approximately $129,514. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jonathan Burth sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $12.79, for a total value of $447,650.00. Following the completion of the transaction, the chief operating officer now owns 139,021 shares in the company, valued at approximately $1,778,078.59. The disclosure for this sale can be found here. Insiders have sold 175,084 shares of company stock worth $2,415,240 in the last 90 days. Insiders own 51.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in Vita Coco by 154.1% during the second quarter. Legal & General Group Plc now owns 3,008 shares of the company’s stock valued at $29,000 after buying an additional 1,824 shares during the period. Quantbot Technologies LP purchased a new stake in Vita Coco during the first quarter valued at about $33,000. New York State Common Retirement Fund purchased a new stake in Vita Coco during the first quarter valued at about $41,000. JPMorgan Chase & Co. boosted its position in Vita Coco by 25.2% during the first quarter. JPMorgan Chase & Co. now owns 5,268 shares of the company’s stock valued at $47,000 after buying an additional 1,062 shares during the period. Finally, Ergoteles LLC purchased a new stake in Vita Coco during the first quarter valued at about $94,000. Institutional investors own 22.10% of the company’s stock.

About Vita Coco

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The Vita Coco Company, Inc develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

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