Vita Coco (NASDAQ:COCO) Shares Gap Down to $16.66

The Vita Coco Company, Inc. (NASDAQ:COCO – Get Rating) shares gapped down before the market opened on Wednesday . The stock had previously closed at $16.66, but opened at $14.55. Vita Coco shares last traded at $16.41, with a volume of 121,251 shares.

Wall Street Analyst Weigh In

COCO has been the topic of several recent research reports. Credit Suisse Group lifted their target price on shares of Vita Coco from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI lifted their target price on shares of Vita Coco from $16.00 to $18.00 in a research note on Thursday. The Goldman Sachs Group lifted their target price on shares of Vita Coco from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler boosted their price target on shares of Vita Coco from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. Finally, Wells Fargo & Company boosted their price target on shares of Vita Coco from $15.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $17.00.

Vita Coco Stock Performance

The firm’s 50-day moving average price is $14.77 and its two-hundred day moving average price is $13.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 2.93. The stock has a market cap of $986.15 million, a price-to-earnings ratio of 135.66, a PEG ratio of 1.26 and a beta of 0.03.

Insider Activity at Vita Coco

In related news, COO Jonathan Burth sold 8,000 shares of the business’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $12.71, for a total value of $101,680.00. Following the sale, the chief operating officer now directly owns 186,007 shares in the company, valued at approximately $2,364,148.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ira Liran acquired 10,000 shares of Vita Coco stock in a transaction that occurred on Tuesday, December 13th. The shares were purchased at an average cost of $12.17 per share, for a total transaction of $121,700.00. Following the acquisition, the director now owns 685,252 shares in the company, valued at $8,339,516.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan Burth sold 8,000 shares of the business’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $12.71, for a total transaction of $101,680.00. Following the completion of the sale, the chief operating officer now owns 186,007 shares in the company, valued at $2,364,148.97. The disclosure for this sale can be found here. 51.50% of the stock is owned by insiders.

Institutional Trading of Vita Coco

A number of institutional investors and hedge funds have recently bought and sold shares of COCO. Lord Abbett & CO. LLC increased its stake in Vita Coco by 128.6% during the third quarter. Lord Abbett & CO. LLC now owns 1,693,436 shares of the company’s stock worth $19,288,000 after purchasing an additional 952,740 shares during the period. William Blair Investment Management LLC purchased a new stake in Vita Coco during the fourth quarter worth about $10,275,000. Armistice Capital LLC purchased a new stake in Vita Coco during the fourth quarter worth about $5,721,000. Brandywine Global Investment Management LLC purchased a new stake in Vita Coco during the second quarter worth about $3,059,000. Finally, Vanguard Group Inc. increased its stake in Vita Coco by 28.3% during the third quarter. Vanguard Group Inc. now owns 1,321,632 shares of the company’s stock worth $15,053,000 after purchasing an additional 291,757 shares during the period. 24.07% of the stock is currently owned by hedge funds and other institutional investors.

Vita Coco Company Profile

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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, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.