Vita Coco (NASDAQ:COCO) Sets New 12-Month Low at $5.25

The Vita Coco Company, Inc. (NASDAQ:COCOGet Rating) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.25 and last traded at $9.26, with a volume of 30056 shares trading hands. The stock had previously closed at $9.22.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COCO. Credit Suisse Group boosted their target price on shares of Vita Coco from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Wells Fargo & Company lowered their target price on shares of Vita Coco from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vita Coco presently has an average rating of “Buy” and an average target price of $15.57.

Vita Coco Trading Up 21.5 %

The stock’s 50 day moving average is $11.94 and its two-hundred day moving average is $11.89. The company has a market capitalization of $562.11 million and a PE ratio of 42.09. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.17.

Vita Coco (NASDAQ:COCOGet Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Vita Coco had a net margin of 3.13% and a return on equity of 13.03%. The company had revenue of $115.30 million during the quarter, compared to analyst estimates of $114.83 million. Vita Coco’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts predict that The Vita Coco Company, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kevin Benmoussa sold 30,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $14.53, for a total value of $435,900.00. Following the completion of the sale, the chief financial officer now directly owns 10,150 shares of the company’s stock, valued at $147,479.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Vita Coco news, COO Jonathan Burth sold 17,660 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $14.55, for a total transaction of $256,953.00. Following the completion of the sale, the chief operating officer now directly owns 129,021 shares of the company’s stock, valued at $1,877,255.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Benmoussa sold 30,000 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $14.53, for a total transaction of $435,900.00. Following the sale, the chief financial officer now directly owns 10,150 shares of the company’s stock, valued at $147,479.50. The disclosure for this sale can be found here. Insiders sold a total of 83,209 shares of company stock valued at $1,241,865 over the last three months. 51.50% of the stock is owned by company insiders.

Institutional Trading of Vita Coco

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of 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 last quarter. Quantbot Technologies LP acquired a new position in shares of Vita Coco during the first quarter valued at about $33,000. New York State Common Retirement Fund acquired a new position in shares of Vita Coco during the first quarter valued at about $41,000. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 1,062 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Vita Coco by 681.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,135 shares of the company’s stock valued at $58,000 after acquiring an additional 4,478 shares in the last quarter. 22.10% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Company Profile

(Get Rating)

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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