StockNews.com Initiates Coverage on Coffee (NASDAQ:JVA)

Equities researchers at StockNews.com began coverage on shares of Coffee (NASDAQ:JVA – Get Rating) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Coffee Price Performance

NASDAQ:JVA opened at $1.65 on Wednesday. The company has a current ratio of 5.75, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $2.02. Coffee has a one year low of $1.50 and a one year high of $3.20.

Hedge Funds Weigh In On Coffee

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new stake in shares of Coffee during the first quarter valued at approximately $27,000. Millennium Management LLC bought a new stake in shares of Coffee during the fourth quarter valued at approximately $43,000. Ancora Advisors LLC raised its holdings in shares of Coffee by 9.4% during the first quarter. Ancora Advisors LLC now owns 183,907 shares of the company’s stock valued at $344,000 after buying an additional 15,829 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Coffee by 2.1% during the second quarter. Renaissance Technologies LLC now owns 389,664 shares of the company’s stock valued at $951,000 after buying an additional 8,120 shares during the last quarter. 20.43% of the stock is currently owned by institutional investors and hedge funds.

About Coffee

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Coffee Holding Co, Inc is wholesale coffee roaster and dealer in the U.S. Its products are divided into three categories: Wholesale Green Coffee, Private Label Coffee and Branded Coffee. The Wholesale Green Coffee consists of unroasted raw beans imported from around the world and sold to large and small roasters and coffee shop operators.