Green Mountain Coffee Growing Gangbusters, Shares Spike
Green Mountain Coffee Roasters (NASDAQ:GMCR) jumped 8 percent to $50.64 after NPD data showed December’s sales of Keurig brewing machines grew 50 percent year-over-year, StreetInsider reported.
SunTrust analysts had forecasted a 30 percent increse for the first quarter, and SunTrust’s William Chappell said the December data was “extremely favorable.”
As of Dec. 30, Green Mountain had 24.6 percent of its float shorted. The company reports earnings on Feb. 1.
Here’s how GMCR shares are reacting to the news:
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR): GMCR shares recently traded at $51.02, up $4.05, or 8.62%. They have traded in a 52-week range of $32.73 to $115.98. Volume today was 4,437,845 shares versus a 3-month average volume of 8,795,090 shares. The company’s trailing P/E is 38.95, while trailing earnings are $1.31 per share.