Chart of the Day: Vita Coco - Give it a Splash

The Chart of the Day belongs to the soft drink company Vita Coco (COCO)   .  I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 5/3 the stock gained 9.021%.

The Vita Coco Company, Inc. develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink. It distributes its products through club, food, drug, mass, convenience, e-commerce, and foodservice channels. In addition, the company supplies coconut water and coconut oil categories to retailers. The company was formerly known as All Market Inc. and changed its name to The Vita Coco Company, Inc. in September 2021.The Vita Coco Company, Inc. was founded in 2004 and is headquartered in New York, New York

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 146.43+Weighted Alpha
• 126.05% gain in the last year
• Trend Seeker buy signal
• Above its 20, 50 and 100 day moving averages
• 11 new highs and up 24.22% in the last month
• Relative Strength Index 65.53%
• Technical support level at $23.32
• Recently traded at $26.00 with 50 day moving average of $21.48

Fundamental Factors:

• Market Cap $1.33 billion
• P/E 68.21
• Revenue projected to grow 11.80% this year and another 11.50% next year
• Earnings estimated to increase 400.00% this year, an additional 28.60% next year and continue to compound at an annual rate of 104.10% for the next 5 years

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analysts gave 5 strong buy and 2 buy opinions on the stock
• Analysts price targets are between $25 and $30
• Motley Fool analysts comments : One recent IPO that deserves a closer look from investors is Vita Coco, the maker of its eponymous coconut water, as well as a portfolio of healthy beverages that includes clean energy drink Runa, sustainable enhanced water Ever & Ever, and protein-infused water PWR LIFT. It also has a private-label business with retailers. 
• Value Line give it its highest rating of 1
• CFRAs MarketScope gives it a sell rating
• 1,960 investors monitor the stock on Seeking Alpha

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in  the next 72 hours.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.