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

The Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report) saw 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. Based on an average trading volume of 731,100 shares, the short-interest ratio is currently 7.1 days. Approximately 14.8% of the shares of the stock are sold short.

Insider Activity

In other news, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Michael Kirban sold 19,198 shares of Vita Coco stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Liran sold 2,780 shares of Vita Coco stock in a transaction that occurred 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 owns 992,644 shares of the company’s stock, valued at $24,855,805.76. The disclosure for this sale can be found here. In the last three months, insiders sold 38,538 shares of company stock worth $964,161. Company insiders own 51.10% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Institutional investors have recently added to or reduced their stakes in the company. Oak Ridge Investments LLC acquired a new stake in shares of Vita Coco in the 4th quarter valued at about $1,922,000. AMI Asset Management Corp raised its stake in shares of Vita Coco by 51.4% in the 4th quarter. AMI Asset Management Corp now owns 121,856 shares of the company’s stock valued at $3,126,000 after purchasing an additional 41,374 shares in the last quarter. Great Lakes Advisors LLC raised its stake in shares of Vita Coco by 69.7% in the 3rd quarter. Great Lakes Advisors LLC now owns 124,227 shares of the company’s stock valued at $3,235,000 after purchasing an additional 51,043 shares in the last quarter. 12 West Capital Management LP acquired a new stake in shares of Vita Coco in the 3rd quarter valued at about $9,114,000. Finally, Navellier & Associates Inc. acquired a new stake in shares of Vita Coco in the 3rd quarter valued at about $1,071,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Vita Coco Stock Performance

Vita Coco stock traded up $0.32 during trading on Tuesday, reaching $24.27. 1,231,854 shares of the company’s stock were exchanged, compared to its average volume of 758,802. The company’s 50-day moving average is $22.89 and its two-hundred day moving average is $25.28. Vita Coco has a 52-week low of $19.23 and a 52-week high of $33.29. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.95 and a beta of 0.16.

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

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on Vita 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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