Coffee Holding Co., Inc. (NASDAQ:JVA) Shares Shorted: Short Interest Down 70.2% in September

Coffee Holding Co., Inc. (NASDAQ:JVA) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 8,068 shares, a decrease of 70.2% from the September 15th total of 27,101 shares. Based on an average trading volume of 49,918 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Coffee stock. Empowered Funds LLC raised its position in Coffee Holding Co., Inc. (NASDAQ:JVA) by 10.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 38,420 shares of the company’s stock after acquiring an additional 3,538 shares during the period. Empowered Funds LLC owned about 0.67% of Coffee worth $163,000 as of its most recent filing with the SEC.

Coffee Trading Down 1.5%

Shares of NASDAQ JVA opened at $4.56 on Wednesday. The company has a fifty day moving average price of $3.80 and a 200 day moving average price of $3.93. The firm has a market cap of $26.04 million, a PE ratio of 5.43 and a beta of 1.41. Coffee has a 1-year low of $2.93 and a 1-year high of $5.03.

Coffee (NASDAQ:JVA) last released its quarterly earnings results on Friday, September 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.34. The firm had revenue of $21.69 million for the quarter, compared to the consensus estimate of $23.00 million. Coffee had a return on equity of 16.20% and a net margin of 4.85%.

Coffee declared that its board has authorized a stock repurchase program on Wednesday, October 7th that permits the company to repurchase $2.50 million in shares. This buyback authorization permits the company to purchase up to 11% of its shares through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JVA. DA Davidson set a $10.00 price objective on Coffee in a report on Wednesday, August 12th. Weiss Ratings upgraded Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.50.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a specialty coffee processor, roaster, packager and distributor headquartered in Staten Island, New York. The company supplies coffee products to retail, foodservice and private-label customers, offering roasted whole-bean and ground coffee as well as other coffee formats.

The company markets products under its own brands and also produces coffee for third-party customers. Its activities include sourcing green coffee beans, roasting and blending coffee, packaging finished products, and distributing them through grocery, foodservice and wholesale channels.

Coffee Holding was founded in 1975 and has expanded its business through branded products, private-label production and acquisitions.