Coffee Holding Co., Inc. (NASDAQ:JVA) Sees Significant Drop in Short Interest

Coffee Holding Co., Inc. (NASDAQ:JVA) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 7,000 shares, a decline of 38.6% from the August 30th total of 11,400 shares. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Several institutional investors and hedge funds have recently modified their holdings of JVA. JPMorgan Chase & Co. raised its stake in shares of Coffee by 499.2% in the second quarter. JPMorgan Chase & Co. now owns 16,986 shares of the company’s stock valued at $67,000 after buying an additional 14,151 shares during the period. Acadian Asset Management LLC raised its stake in shares of Coffee by 7.3% in the second quarter. Acadian Asset Management LLC now owns 69,667 shares of the company’s stock valued at $285,000 after buying an additional 4,734 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Coffee by 70.3% in the second quarter. Vanguard Group Inc. now owns 285,509 shares of the company’s stock valued at $1,168,000 after buying an additional 117,862 shares during the period. Hedge funds and other institutional investors own 30.11% of the company’s stock.

Shares of JVA traded up $0.12 during mid-day trading on Friday, hitting $3.89. The stock had a trading volume of 8,169 shares, compared to its average volume of 20,627. The firm has a market cap of $21.67 million, a P/E ratio of 62.17 and a beta of 1.55. The business has a fifty day moving average price of $3.93 and a 200-day moving average price of $4.44. Coffee has a 52 week low of $3.53 and a 52 week high of $7.79.

Coffee (NASDAQ:JVA) last issued its earnings results on Friday, September 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $21.59 million during the quarter. Coffee had a net margin of 0.33% and a return on equity of 1.09%.

Coffee Company Profile

Coffee Holding Co, Inc manufactures, roasts, packages, markets, and distributes roasted and blended coffees in the United States, Australia, Canada, England, and China. The company offers wholesale green coffee products, which include unroasted raw beans of approximately 90 varieties that are sold to large, medium, and small roasters, as well as to coffee shop operators.

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