Vita Coco (NASDAQ:COCO – Get Rating) released its earnings results on Wednesday. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02, MarketWatch Earnings reports. Vita Coco updated its FY 2022 guidance to EPS.
NASDAQ:COCO traded down $0.91 on Thursday, reaching $9.08. The stock had a trading volume of 918,899 shares, compared to its average volume of 376,576. The stock’s fifty day simple moving average is $9.65. Vita Coco has a 12-month low of $7.51 and a 12-month high of $18.61.
In related news, Director Kenneth Sadowsky bought 10,000 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was acquired at an average cost of $7.87 per share, for a total transaction of $78,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Martin F. Roper acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 18th. The shares were acquired at an average cost of $9.06 per share, for a total transaction of $226,500.00. The disclosure for this purchase can be found here. Insiders purchased a total of 85,000 shares of company stock worth $727,700 in the last three months.
COCO has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on Vita Coco from $15.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, March 11th. The Goldman Sachs Group lowered their price objective on shares of Vita Coco from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, April 4th. Bank of America lowered shares of Vita Coco from a “buy” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $10.00 in a research report on Monday, March 14th. Credit Suisse Group dropped their price target on shares of Vita Coco from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, March 11th. Finally, Zacks Investment Research lowered Vita Coco from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Vita Coco has a consensus rating of “Buy” and an average price target of $15.43.
Vita Coco Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Vita Coco (COCO)
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