Vita Coco (NASDAQ:COCO) Trading 6.2% Higher

The Vita Coco Company, Inc. (NASDAQ:COCO)’s share price traded up 6.2% during mid-day trading on Wednesday . The stock traded as high as $26.17 and last traded at $25.74. 466,765 shares were traded during trading, a decline of 33% from the average session volume of 696,123 shares. The stock had previously closed at $24.24.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group decreased their price target on Vita Coco from $32.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Piper Sandler boosted 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. TheStreet cut Vita Coco from a “b-” rating to a “c+” rating in a research report on Monday, January 22nd. Stephens raised Vita Coco from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Thursday, February 29th. Finally, William Blair cut Vita Coco from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.71.

Vita Coco Trading Up 6.3 %

The business has a fifty day moving average of $24.45 and a 200-day moving average of $25.00. The firm has a market cap of $1.46 billion, a PE ratio of 32.65, a PEG ratio of 2.00 and a beta of 0.16.

Vita Coco (NASDAQ:COCO) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $106.10 million for the quarter, compared to analysts’ expectations of $99.63 million. Vita Coco had a return on equity of 24.27% and a net margin of 9.45%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 EPS. On average, equities analysts forecast that The Vita Coco Company, Inc. will post 0.92 EPS for the current year.

Insiders Place Their Bets

In other Vita Coco news, Director Ira Liran sold 6,915 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total value of $172,875.00. Following the transaction, the director now directly owns 985,729 shares in the company, valued at approximately $24,643,225. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ira Liran sold 6,915 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $25.00, for a total transaction of $172,875.00. Following the transaction, the director now directly owns 985,729 shares in the company, valued at approximately $24,643,225. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael Kirban sold 2,562 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.05, for a total value of $64,178.10. Following the transaction, the chairman now 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 52,353 shares of company stock worth $1,309,536 in the last ninety days. 51.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vita Coco

Several institutional investors have recently bought and sold shares of COCO. Syon Capital LLC purchased a new stake in Vita Coco in the 4th quarter worth approximately $113,931,000. Oak Ridge Investments LLC purchased a new stake in Vita Coco in the 4th quarter worth approximately $1,922,000. AMI Asset Management Corp lifted its holdings in Vita Coco by 51.4% in the 4th quarter. AMI Asset Management Corp now owns 121,856 shares of the company’s stock worth $3,126,000 after buying an additional 41,374 shares during the period. Great Lakes Advisors LLC lifted its holdings in Vita Coco by 69.7% in the 3rd quarter. Great Lakes Advisors LLC now owns 124,227 shares of the company’s stock worth $3,235,000 after buying an additional 51,043 shares during the period. Finally, 12 West Capital Management LP purchased a new stake in Vita Coco in the 3rd quarter worth approximately $9,114,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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.