Short Interest in Mission Produce, Inc. (NASDAQ:AVO) Grows By 15.8%

by · The Markets Daily

Mission Produce, Inc. (NASDAQ:AVO – Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 1,320,000 shares, an increase of 15.8% from the September 15th total of 1,140,000 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average trading volume of 273,500 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AVO shares. Roth Mkm increased their price objective on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital restated a “buy” rating and set a $15.00 target price on shares of Mission Produce in a research note on Tuesday, September 10th.

Check Out Our Latest Analysis on Mission Produce

Insider Activity

In other news, Director Taylor Family Investments, Llc sold 100,100 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $13.25, for a total value of $1,326,325.00. Following the transaction, the director now directly owns 8,630,002 shares in the company, valued at approximately $114,347,526.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Luis A. Gonzalez sold 51,615 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.28, for a total value of $685,447.20. Following the completion of the transaction, the director now owns 7,219,614 shares of the company’s stock, valued at approximately $95,876,473.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $13.25, for a total transaction of $1,326,325.00. Following the sale, the director now directly owns 8,630,002 shares in the company, valued at approximately $114,347,526.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 296,059 shares of company stock valued at $3,920,360. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Mission Produce

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC increased its stake in Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after purchasing an additional 3,112 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Mission Produce during the second quarter worth about $53,000. Point72 DIFC Ltd acquired a new position in Mission Produce in the 2nd quarter valued at about $53,000. nVerses Capital LLC purchased a new stake in Mission Produce during the 2nd quarter valued at approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Mission Produce during the 2nd quarter worth approximately $73,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Mission Produce Stock Up 0.2 %

NASDAQ:AVO traded up $0.02 during trading hours on Monday, hitting $12.15. The company’s stock had a trading volume of 185,811 shares, compared to its average volume of 223,644. Mission Produce has a 52-week low of $8.19 and a 52-week high of $13.62. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $861.56 million, a P/E ratio of 48.60 and a beta of 0.48. The stock has a fifty day moving average of $11.57 and a 200-day moving average of $11.33.

Mission Produce (NASDAQ:AVO – Get Free Report) last released its quarterly earnings data on Monday, September 9th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.23. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. The business had revenue of $324.00 million for the quarter, compared to the consensus estimate of $229.90 million. On average, equities analysts forecast that Mission Produce will post 0.39 earnings per share for the current year.

Mission Produce Company Profile

(Get Free Report)

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.

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