The Vita Coco Company, Inc. (NASDAQ:COCO) Short Interest Down 22.4% in February

The Vita Coco Company, Inc. (NASDAQ:COCO) was the recipient of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,670,000 shares, a drop of 22.4% from the February 13th total of 4,730,000 shares. Approximately 9.4% of the shares of the stock are sold short. Based on an average trading volume of 578,700 shares, the short-interest ratio is currently 6.3 days.

Vita Coco Price Performance

Shares of Vita Coco stock traded up $0.40 during trading on Monday, hitting $35.08. The company’s stock had a trading volume of 103,211 shares, compared to its average volume of 549,203. Vita Coco has a 52 week low of $23.00 and a 52 week high of $40.32. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 2.25 and a beta of 0.34. The stock has a 50-day moving average price of $36.19 and a two-hundred day moving average price of $33.41.

Insiders Place Their Bets

In other Vita Coco news, COO Jonathan Burth sold 700 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $40.25, for a total value of $28,175.00. Following the sale, the chief operating officer now owns 104,108 shares of the company’s stock, valued at approximately $4,190,347. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Liran sold 30,000 shares of Vita Coco stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $35.58, for a total value of $1,067,400.00. Following the completion of the transaction, the director now owns 853,729 shares in the company, 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 72,410 shares of company stock worth $2,664,461 in the last 90 days. Company insiders own 34.20% of the company’s stock.

Hedge Funds Weigh In On Vita Coco

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 360 shares during the period. Coppell Advisory Solutions LLC grew its position in shares of Vita Coco by 91.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,283 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Vita Coco in the 4th quarter valued at $52,000. Venturi Wealth Management LLC acquired a new position in shares of Vita Coco during the 4th quarter valued at $66,000. Finally, Quest Partners LLC boosted its stake in Vita Coco by 16,538.1% during the third quarter. Quest Partners LLC now owns 3,494 shares of the company’s stock worth $99,000 after acquiring an additional 3,473 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

COCO has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of Vita Coco from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Bank of America increased their price objective on shares of Vita Coco from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens cut shares of Vita Coco from an “overweight” rating to an “equal weight” rating and set a $36.00 target price on the stock. in a research note on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on Vita Coco from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.14.

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.