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

The Vita Coco Company, Inc. (NASDAQ:COCO) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 6,160,000 shares, a decrease of 5.1% from the May 15th total of 6,490,000 shares. Currently, 16.1% of the company’s shares are sold short. Based on an average daily volume of 563,800 shares, the short-interest ratio is presently 10.9 days.

Insider Buying and Selling at Vita Coco

In other Vita Coco news, COO Jonathan Burth sold 2,845 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $30.07, for a total transaction of $85,549.15. Following the transaction, the chief operating officer now directly owns 134,004 shares in the company, valued at approximately $4,029,500.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Es Charles Van sold 6,700 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $30.04, for a total value of $201,268.00. Following the sale, the insider now directly owns 97,668 shares in the company, valued at approximately $2,933,946.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan Burth sold 2,845 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $30.07, for a total transaction of $85,549.15. Following the completion of the sale, the chief operating officer now owns 134,004 shares in the company, valued at $4,029,500.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,317 shares of company stock worth $1,159,580. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

Several hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC grew its stake in shares of Vita Coco by 0.5% during the 3rd quarter. HighTower Advisors LLC now owns 127,316 shares of the company’s stock worth $3,314,000 after acquiring an additional 618 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of Vita Coco by 7.0% during the 4th quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock worth $243,000 after acquiring an additional 619 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Vita Coco by 5.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,126 shares of the company’s stock worth $337,000 after acquiring an additional 638 shares in the last quarter. Ameritas Investment Partners Inc. grew 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 worth $92,000 after acquiring an additional 919 shares in the last quarter. Finally, Headinvest LLC bought a new position in shares of Vita Coco during the 3rd quarter worth approximately $29,000. 88.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Stephens reiterated an “overweight” rating and issued a $31.00 price target on shares of Vita Coco in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Vita Coco currently has an average rating of “Moderate Buy” and an average target price of $29.67.

Vita Coco Stock Performance

NASDAQ COCO opened at $29.03 on Thursday. The business has a 50 day simple moving average of $26.58 and a 200 day simple moving average of $25.04. Vita Coco has a 52-week low of $19.41 and a 52-week high of $33.29. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.88 and a beta of 0.26.

Vita Coco (NASDAQ:COCO) last posted its earnings results on Wednesday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The business had revenue of $112.00 million during the quarter, compared to analysts’ expectations of $111.72 million. During the same period in the prior year, the business earned $0.12 EPS. Vita Coco’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Vita Coco will post 1.04 EPS 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.