The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Update

The Vita Coco Company, Inc. (NASDAQ:COCO – Get Free Report ) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 6,500,000 shares, a decrease of 7.7% from July 15th’s total of 7,040,000 shares. Based on an average daily trading volume of 644,700 shares, the short interest rate is currently 10.1 days. About 17.0% of the stock’s shares are short sold.

Insider trading at Vita Coco

In related news, Director John Zupo sold 5,017 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $27.62, for a total transaction of $138,569.54. Following the sale, the director now owns 8,247 shares of the company’s stock, valued at approximately $227,782.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director John Zupo sold 5,017 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $27.62, for a total value of $138,569.54. Following the completion of the transaction, the director now owns 8,247 shares of the company’s stock, valued at $227,782.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. Also, insider Es Charles Van sold 2,805 shares of Vita Coco stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $30.06, for a total transaction of $84,318.30. Following the sale, the insider now owns 97,668 shares in the company, valued at $2,935,900.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,874 shares of company stock worth $945,365. Corporate insiders own 34.20% of the company’s shares.

Institutional Investors weigh in on Vita Coco

A number of large investors have recently bought and sold shares of COCO. Syon Capital LLC purchased a new stake in shares of Vita Coco in the 4th quarter valued at about $113,931,000. Vanguard Group Inc. raised its stake in Vita Coco by 10.8% in the first quarter. Vanguard Group Inc. now owns 2,375,421 shares of the company’s stock valued at $58,032,000 after acquiring an additional 230,991 shares during the period. abrdn plc bought a new stake in shares of Vita Coco during the fourth quarter valued at about $22,321,000. Dimensional Fund Advisors LP increased its position in shares of Vita Coco by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 776,469 shares of the company’s stock worth $21,623,000 after buying an additional 156,033 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in shares of Vita Coco by 8.0% in the second quarter. William Blair Investment Management LLC now owns 761,315 shares of the company’s stock worth $21,203,000 after buying an additional 56,416 shares during the last quarter. 88.49% of shares are currently owned by institutional investors and hedge funds.

Vita Coco price performance

Shares of Vita Coco stock opened at $25.44 on Monday. The stock’s 50-day moving average is $27.18 and its 200-day moving average is $25.55. Vita Coco has a one year low of $19.41 and a one year high of $33.29. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.63 and a beta of 0.22.

Vita Coco (NASDAQ:COCO – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $144.08 million. Vita Coco had a return on equity of 27.42% and a net margin of 11.05%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. On average, sell-side analysts expect that Vita Coco will post 1 EPS for the current fiscal year.

Analysts set new price targets

A number of research firms recently weighed in on COCO. Jefferies Financial Group cut their price objective on Vita Coco from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America upped their price target on Vita Coco from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Piper Sandler downgraded Vita Coco from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $28.00 in a research report on Friday, 12 July. Wells Fargo & Company upped their target price on Vita Coco from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Stephens restated an “overweight” rating and set a $31.00 target price on shares of Vita Coco in a report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and an average price target of $30.00, according to MarketBeat.com.

Check out our latest report on COCO

About Vita Coco

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Vita Coco Company, Inc develops, markets and distributes coconut water products under the Vita Coco brand in the United States, Canada, Europe, the Middle East, Africa and Asia Pacific. The company offers coconut oil and coconut milk; juice; Runa, a herbal energy drink; bottled water under the Ever & Ever brand; and PWR LIFT, a protein-infused fitness drink.

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