Vita Coco (NASDAQ:COCO) Shares Gap Down to $29.11

The Vita Coco Company, Inc. (NASDAQ:COCOGet Free Report)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $29.11, but opened at $28.44. Vita Coco shares last traded at $28.60, with a volume of 78,184 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COCO shares. Piper Sandler upped their price objective on Vita Coco from $24.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Stephens reiterated an “overweight” rating and set a $31.00 price objective on shares of Vita Coco in a research report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Read Our Latest Stock Analysis on Vita Coco

Vita Coco Price Performance

The business’s 50-day simple moving average is $25.66 and its two-hundred day simple moving average is $24.99. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.81 and a beta of 0.26.

Vita Coco (NASDAQ:COCOGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. Vita Coco had a return on equity of 26.27% and a net margin of 10.93%. The firm had revenue of $112.00 million during the quarter, compared to the consensus estimate of $111.72 million. During the same period last year, the company earned $0.12 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that The Vita Coco Company, Inc. will post 1.04 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Michael Kirban sold 2,562 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $25.05, for a total transaction of $64,178.10. Following the completion of the transaction, the chairman now directly owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vita Coco news, Chairman Michael Kirban sold 2,562 shares of Vita Coco stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $25.05, for a total value of $64,178.10. Following the completion of the sale, the chairman now directly owns 640,348 shares in the company, valued at $16,040,717.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ira Liran sold 2,780 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was 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 $24,855,805.76. The disclosure for this sale can be found here. Insiders have sold a total of 52,353 shares of company stock valued at $1,309,536 over the last 90 days. 34.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Vita Coco

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC grew its stake in Vita Coco by 0.5% in the third quarter. HighTower Advisors LLC now owns 127,316 shares of the company’s stock valued at $3,314,000 after acquiring an additional 618 shares during the period. Moran Wealth Management LLC grew its position in Vita Coco by 7.0% in the 4th quarter. Moran Wealth Management LLC now owns 9,473 shares of the company’s stock valued at $243,000 after purchasing an additional 619 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $337,000 after purchasing an additional 638 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in Vita Coco by 32.3% during the first quarter. Ameritas Investment Partners Inc. now owns 3,760 shares of the company’s stock worth $92,000 after buying an additional 919 shares during the last quarter. Finally, Headinvest LLC bought a new position in shares of Vita Coco in the third quarter valued at $29,000. Institutional investors own 88.49% of the company’s stock.

About Vita Coco

(Get Free Report)

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.

Further Reading

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