The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Up 7.0% in April

The Vita Coco Company, Inc. (NASDAQ:COCO) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,670,000 shares, a growth of 7.0% from the March 31st total of 5,300,000 shares. Based on an average daily volume of 681,300 shares, the short-interest ratio is currently 8.3 days. Approximately 14.8% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, Chairman Michael Kirban sold 19,198 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now directly owns 656,483 shares in the company, valued at approximately $16,418,639.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Michael Kirban sold 19,198 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $25.01, for a total transaction of $480,141.98. Following the completion of the sale, the chairman now directly owns 656,483 shares in the company, valued at $16,418,639.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ira Liran sold 2,780 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $25.04, for a total value of $69,611.20. Following the transaction, the director now owns 992,644 shares in the company, valued at approximately $24,855,805.76. The disclosure for this sale can be found here. Insiders have sold 52,353 shares of company stock valued at $1,309,536 in the last ninety days. Company insiders own 51.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COCO. Headinvest LLC bought a new position in shares of Vita Coco in the third quarter worth approximately $29,000. Robeco Institutional Asset Management B.V. purchased a new stake in Vita Coco during the 4th quarter valued at $60,000. New York State Teachers Retirement System bought a new stake in shares of Vita Coco in the 1st quarter worth $63,000. PNC Financial Services Group Inc. increased its holdings in shares of Vita Coco by 1,289.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $89,000 after purchasing an additional 3,210 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Vita Coco by 1,237.2% in the third quarter. Federated Hermes Inc. now owns 6,405 shares of the company’s stock worth $167,000 after purchasing an additional 5,926 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Vita Coco Price Performance

NASDAQ:COCO opened at $26.16 on Thursday. Vita Coco has a 1-year low of $19.41 and a 1-year high of $33.29. The company has a market capitalization of $1.48 billion, a PE ratio of 32.70, a P/E/G ratio of 1.94 and a beta of 0.18. The firm’s 50-day moving average price is $24.56 and its 200-day moving average price is $25.01.

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

Analyst Upgrades and Downgrades

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

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.