Short Interest in The Vita Coco Company, Inc. (NASDAQ:COCO) Expands By 9.2%

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 6,160,000 shares, a growth of 9.2% from the October 15th total of 5,640,000 shares. Currently, 16.1% of the shares of the company are sold short. Based on an average trading volume of 487,800 shares, the short-interest ratio is currently 12.6 days.

Wall Street Analyst Weigh In

COCO has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Craig Hallum increased their price target on shares of Vita Coco from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Vita Coco currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Activity

In related news, Director Ira Liran sold 27,176 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.04, for a total value of $979,423.04. Following the completion of the transaction, the director now directly owns 883,729 shares in the company, valued at $31,849,593.16. The trade was a 2.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jonathan Burth sold 2,244 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.01, for a total transaction of $67,342.44. Following the transaction, the chief operating officer now owns 124,605 shares of the company’s stock, valued at $3,739,396.05. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,425 shares of company stock valued at $1,494,523 in the last ninety days. Insiders own 34.20% of the company’s stock.

Institutional Trading of Vita Coco

A number of institutional investors have recently modified their holdings of COCO. nVerses Capital LLC boosted its holdings in Vita Coco by 271.4% in the 2nd quarter. nVerses Capital LLC now owns 2,600 shares of the company’s stock worth $72,000 after acquiring an additional 1,900 shares during the period. CWM LLC boosted its stake in shares of Vita Coco by 40.7% during the 2nd quarter. CWM LLC now owns 2,720 shares of the company’s stock valued at $76,000 after buying an additional 787 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Vita Coco by 32.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock valued at $92,000 after buying an additional 919 shares during the last quarter. Comerica Bank boosted its stake in shares of Vita Coco by 1,155.7% during the 1st quarter. Comerica Bank now owns 3,993 shares of the company’s stock valued at $98,000 after buying an additional 3,675 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Vita Coco by 16,538.1% during the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Vita Coco Trading Up 3.1 %

Shares of NASDAQ:COCO traded up $1.04 during midday trading on Monday, hitting $35.06. 341,610 shares of the stock were exchanged, compared to its average volume of 620,107. The stock has a market cap of $1.99 billion, a P/E ratio of 34.36, a PEG ratio of 2.22 and a beta of 0.22. Vita Coco has a twelve month low of $19.41 and a twelve month high of $36.41. The company has a 50 day moving average price of $29.90 and a 200-day moving average price of $27.91.

Vita Coco (NASDAQ:COCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.06. Vita Coco had a return on equity of 26.49% and a net margin of 11.99%. The business had revenue of $133.00 million during the quarter, compared to the consensus estimate of $138.56 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Vita Coco will post 1.07 earnings per share for the current year.

Vita Coco Company Profile

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, Africa, and the Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a plant-based energy drink; packaged water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.