Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Expands By 10.1%

The Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 5,210,000 shares, an increase of 10.1% from the February 29th total of 4,730,000 shares. Currently, 14.8% of the shares of the company are sold short. Based on an average trading volume of 731,100 shares, the short-interest ratio is currently 7.1 days.

Insider Activity at Vita Coco

In related news, Chairman Michael Kirban sold 2,562 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now directly owns 640,348 shares of the company’s stock, valued at approximately $16,040,717.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Ira Liran sold 2,780 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $25.04, for a total value of $69,611.20. Following the transaction, the director now directly owns 992,644 shares of the company’s stock, valued at approximately $24,855,805.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the sale, the chairman now directly owns 640,348 shares in the company, valued at $16,040,717.40. The disclosure for this sale can be found here. Insiders have sold a total of 38,538 shares of company stock valued at $964,161 in the last ninety days. Company insiders own 51.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Syon Capital LLC purchased a new position in Vita Coco in the 4th quarter worth approximately $113,931,000. FMR LLC lifted its stake in Vita Coco by 72.3% in the 3rd quarter. FMR LLC now owns 2,384,817 shares of the company’s stock worth $62,101,000 after purchasing an additional 1,000,408 shares in the last quarter. abrdn plc acquired a new stake in shares of Vita Coco during the 4th quarter worth approximately $22,321,000. Ameriprise Financial Inc. increased its holdings in shares of Vita Coco by 9,796.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 787,873 shares of the company’s stock worth $20,516,000 after buying an additional 779,912 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Vita Coco during the 1st quarter worth approximately $5,746,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Vita Coco Stock Up 1.3 %

Shares of COCO stock traded up $0.32 during mid-day trading on Tuesday, hitting $24.27. 1,231,854 shares of the stock were exchanged, compared to its average volume of 758,802. The firm has a fifty day moving average of $22.89 and a 200 day moving average of $25.28. Vita Coco has a 52-week low of $19.23 and a 52-week high of $33.29. The company has a market cap of $1.38 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.95 and a beta of 0.16.

Vita Coco (NASDAQ:COCOGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $106.10 million for the quarter, compared to analyst estimates of $99.63 million. Vita Coco had a net margin of 9.45% and a return on equity of 24.27%. Vita Coco’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. Equities analysts predict that Vita Coco will post 0.92 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on COCO. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price target on the stock in a research report on Thursday, February 29th. The Goldman Sachs Group cut their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. William Blair downgraded Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Piper Sandler increased their target price on shares of Vita Coco from $24.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, TheStreet lowered shares of Vita Coco from a “b-” rating to a “c+” rating in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.71.

View Our Latest Stock Analysis on COCO

About Vita Coco

(Get Free Report)

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; juice, hydration mix, and milk; sparkling water; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

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