StockNews.com Initiates Coverage on Coffee (NASDAQ:JVA)

StockNews.com began coverage on shares of Coffee (NASDAQ:JVA) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the stock.

Coffee Stock Performance

Shares of NASDAQ JVA opened at $2.95 on Friday. Coffee has a 52-week low of $0.67 and a 52-week high of $3.25. The firm has a market capitalization of $16.84 million, a price-to-earnings ratio of 42.14 and a beta of 1.30. The stock has a 50 day moving average price of $2.24 and a 200 day moving average price of $1.78.

Hedge Funds Weigh In On Coffee

An institutional investor recently raised its position in Coffee stock. Renaissance Technologies LLC lifted its stake in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 324,564 shares of the company’s stock after buying an additional 8,900 shares during the period. Renaissance Technologies LLC owned approximately 5.68% of Coffee worth $759,000 at the end of the most recent quarter.

Coffee Company Profile

Coffee Holding Co, Inc engages in manufacturing, roasting, packaging, marketing, and distributing roasted and blended coffees in the United States, Australia, Canada, England, and China. It offers wholesale green coffee products, including unroasted raw beans that are sold to large, medium, and small roasters, as well as coffee shop operators; and roasts, blends, packages, and sells coffee under private labels in cans, brick packages, and instants of various sizes.