Coffee Holding Co., Inc. (NASDAQ:JVA) experienced a significant surge in short interest during September 2023. As of September 15, the company reported short interest totaling 77,600 shares, marking a remarkable increase of 105.3% from the preceding total of 37,800 shares recorded on August 31. With an average daily trading volume of 78,000 shares, the days-to-cover ratio now stands at 1.0 days, indicating that 1.6% of the company’s stock is currently sold short.
Institutional Investment Movements
Recent activity among institutional investors suggests growing interest in Coffee Holding Co. Informed Momentum Co LLC made a notable entry into the company during the first quarter with an investment valued at $331,000. Meanwhile, Sheaff Brock Investment Advisors LLC increased its stake by 107.6% in the same quarter, bringing its total ownership to 72,655 shares worth approximately $258,000 after acquiring an additional 37,655 shares.
In the second quarter, Allworth Financial LP also joined the ranks of investors by acquiring a new stake valued at $285,000. Jane Street Group LLC invested $118,000 in the second quarter as well. Bridgeway Capital Management LLC further bolstered its position by 14.5%, now holding 26,758 shares valued at $116,000 following the purchase of an extra 3,389 shares.
Analyst Ratings and Stock Performance
Several analysts have weighed in on Coffee Holding Co.’s stock. Wall Street Zen downgraded the company’s rating from “buy” to “hold” in a report dated June 14. Similarly, Weiss Ratings reaffirmed a “hold (C-)” rating on September 27. According to MarketBeat.com, consensus among analysts leans towards a “hold” rating for the stock.
During trading on Monday, JVA shares fell by $0.09, reaching a price of $4.65. The day’s trading volume stood at 4,417 shares, significantly lower than the average volume of 159,656 shares. Over the past twelve months, the stock has fluctuated between a low of $2.69 and a high of $9.93. The company’s market capitalization currently sits at $26.55 million, with a price-to-earnings ratio of 14.53 and a beta of 1.42.
Coffee Holding Co. last reported its earnings on September 12, revealing a loss of ($0.21) earnings per share (EPS) for the quarter, with total revenue amounting to $23.91 million. The company reported a return on equity of 6.84% and a net margin of 2.06%.
Coffee Holding Co., Inc. is engaged in the manufacturing, roasting, packaging, marketing, and distribution of roasted and blended coffees across various regions, including the United States, Australia, Canada, England, and China. The company provides wholesale green coffee products, catering to a wide range of roasters and coffee shop operators, while also offering private label options in various packaging formats.
