The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Down 8.2% in January

The Vita Coco Company, Inc. (NASDAQ:COCO) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 5,370,000 shares, a decline of 8.2% from the January 15th total of 5,850,000 shares. Currently, 13.9% of the shares of the company are short sold. Based on an average daily volume of 475,000 shares, the short-interest ratio is currently 11.3 days.

Vita Coco Stock Down 2.2 %

COCO opened at $39.11 on Wednesday. Vita Coco has a twelve month low of $20.64 and a twelve month high of $40.32. The company has a 50-day simple moving average of $36.59 and a 200 day simple moving average of $32.13. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 39.51, a P/E/G ratio of 2.24 and a beta of 0.30.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COCO. Craig Hallum boosted their target price on shares of Vita Coco from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of Vita Coco from $33.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Bank of America boosted their target price on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 price objective for the company. in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.83.

Insider Buying and Selling at Vita Coco

In other news, CMO Jane Prior sold 3,888 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $37.01, for a total value of $143,894.88. Following the completion of the sale, the chief marketing officer now owns 131,834 shares of the company’s stock, valued at approximately $4,879,176.34. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ira Liran sold 30,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $35.58, for a total transaction of $1,067,400.00. Following the completion of the sale, the director now directly owns 853,729 shares of the company’s stock, valued at approximately $30,375,677.82. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,435 shares of company stock worth $4,741,510 over the last ninety days. Insiders own 34.20% of the company’s stock.

Institutional Investors Weigh In On Vita Coco

A number of hedge funds have recently made changes to their positions in COCO. GAMMA Investing LLC raised its holdings in Vita Coco by 84.9% in the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 360 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in Vita Coco by 91.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in Vita Coco in the 4th quarter valued at approximately $52,000. Venturi Wealth Management LLC bought a new position in Vita Coco in the 4th quarter valued at approximately $66,000. Finally, Quest Partners LLC raised its holdings in Vita Coco by 16,538.1% in the 3rd quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock valued at $99,000 after buying an additional 3,473 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

About Vita Coco

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.