Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Vita Coco Company Inc. shares valued at $24,135 were sold by Ricalde Rowena on Aug 17. At $26.58 per share, Ricalde Rowena sold 908 shares. The insider’s holdings dropped to 19,445 shares worth approximately $0.55 million following the completion of this transaction.
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Also, Verlinvest Beverages SA sold 5,750,000 shares, netting a total of over 125,968,125 in proceeds. Following the sale of shares at $21.91 each, the insider now holds 14,858,120 shares.
Before that, Melloul Eric had sold 5,750,000 shares from its account. In a trade valued at $125,968,125, the Director traded The Vita Coco Company Inc. shares for $21.91 each. Upon closing the transaction, the insider’s holdings decreased to 5,750,000 shares, worth approximately $420.34 million.
As published in a research note from BofA Securities on August 02, 2023, The Vita Coco Company Inc. [COCO] has been rated down from a Buy to a Neutral.
Analyzing COCO Stock Performance
On Thursday, The Vita Coco Company Inc. [NASDAQ: COCO] plunged -1.33% to $28.29. The stock’s lowest price that day was $28.01, but it reached a high of $28.73 in the same session. During the last five days, there has been a surge of approximately 4.05%. Over the course of the year, The Vita Coco Company Inc. shares have jumped approximately 104.70%. Shares of the company reached a 52-week high of $30.88 on 08/02/23 and a 52-week low of $12.50 on 01/12/23. A 50-day SMA is recorded $26.45, while a 200-day SMA reached $20.11. Nevertheless, trading volume fell to 0.55 million shares from 0.38 million shares the previous day.
Support And Resistance Levels for The Vita Coco Company Inc. (COCO)
According to the 24-hour chart, there is a support level at 27.96, which, if violated, would cause prices to drop to 27.62. In the upper region, resistance lies at 28.68. The next price resistance is at 29.06. RSI (Relative Strength Index) is 58.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.95, which suggests the price will decrease in the coming days. Percent R is at 21.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is The Vita Coco Company Inc. subject to short interest?
Stocks of The Vita Coco Company Inc. saw a sharp rise in short interest on Aug 14, 2023 jumping by 0.48 million shares to 4.29 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 3.81 million shares. A jump of 11.19% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.89.
Which companies own the most shares of The Vita Coco Company Inc. (COCO)?
According to The Vanguard Group, Inc. filings, the company currently owns 1,772,403 shares, which is about 3.15% of the total COCO shares outstanding. The investor’s shares have appreciated by 293,224 from its previous 13-F filing of 1479179.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $45,829,638. Fidelity Management & Research Co acquire a 7,156.76% interest valued at $36.22 million while Driehaus Capital Management LLC purchased a 228,953 stake. A total of 780,638 shares of The Vita Coco Company Inc. were bought by Gilder, Gagnon, Howe & Co. LLC during the quarter, and -224,572 were sold by William Blair Investment Manageme. In its current portfolio, Granahan Investment Management, L holds 970,284 shares valued at $25.63 million.
In terms of The Vita Coco Company Inc. share price expectations, FactSet research, analysts set an average price target of $30.43 in the next 12 months, up nearly 11.61% from the previous closing price of $28.67. Analysts anticipate The Vita Coco Company Inc. stock to reach $35.00 by 2023, with the lowest price target being $25.00. In spite of this, 8 analysts ranked The Vita Coco Company Inc. stock as an Overweight at the end of 2023.