2024-07-22 03:31:04 ET
Summary
- On Friday, shares of Coffee Holding rallied to new two-year highs on much higher than average trading volume.
- The stock has delivered a stellar performance so far this year, with shares up by almost 200%.
- Improved financial results, the termination of a proposed reverse merger transaction, and recent insider buying have positively impacted the stock.
- Management recently warned of some near-term impact from record-high London Robusta coffee prices.
- With the overhang from the ill-advised Delta reverse merger transaction now gone and considering the company's vastly improved financial position, I am upgrading Coffee Holding's shares from "Sell" to "Hold".
Note: I have covered Coffee Holding Co., Inc. or "Coffee Holding" ( JVA ) previously, so investors should view this as an update to my earlier articles on the company. ...
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Coffee Holding: Upgrading On Recent Positive Developments - Hold