Coffee Holding Co., Inc. (NASDAQ:JVA) Stock Short Interest Climbs 67.6%

Coffee Holding Co., Inc. (NASDAQ:JVA) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 13,526 shares, an increase of 67.6% from the September 30th total of 8,068 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 82,316 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

JVA has been the subject of a number of analyst reports. Weiss Ratings upgraded Coffee from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. DA Davidson set a $10.00 price target on Coffee in a report on Wednesday, August 12th. Finally, Wall Street Zen raised Coffee to a “buy” rating in a research report on Saturday, October 24th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.50.

Institutional Investors Weigh In On Coffee

A hedge fund recently bought a new stake in Coffee stock. Clear Point Advisors Inc. purchased a new position in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,968 shares of the company’s stock, valued at approximately $78,000. Clear Point Advisors Inc. owned about 0.35% of Coffee as of its most recent filing with the Securities & Exchange Commission.

Coffee Price Performance

NASDAQ:JVA opened at $5.03 on Tuesday. The stock has a market capitalization of $28.72 million, a price-to-earnings ratio of 5.99 and a beta of 1.41. Coffee has a 52 week low of $2.93 and a 52 week high of $5.20. The firm has a 50 day moving average of $4.15 and a 200 day moving average of $3.88.

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, topping the consensus estimate of $0.01 by $0.34. Coffee had a net margin of 4.85% and a return on equity of 16.20%. The business had revenue of $21.69 million for the quarter, compared to analyst estimates of $23.00 million.

Coffee declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 7th that allows the company to buy back $2.50 million in shares. This buyback authorization allows the company to purchase up to 11% of its stock through open market purchases. Share buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.