SunOpta Inc. (STKL) Sees Unusually-High Trading Volume
Shares of SunOpta Inc. (NASDAQ:STKL) saw unusually-strong trading volume on Thursday . Approximately 530,003 shares changed hands during trading, an increase of 25% from the previous session’s volume of 423,392 shares.The stock last traded at $4.78 and had previously closed at $4.60.
STKL has been the topic of several research reports. Canaccord Genuity restated a “buy” rating and issued a $10.00 price objective on shares of SunOpta in a research note on Wednesday, April 13th. Zacks Investment Research raised shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. DA Davidson raised shares of SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, April 13th. Finally, AltaCorp Capital reissued an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.50.
The stock’s market cap is $430.11 million. The company’s 50 day moving average price is $4.39 and its 200 day moving average price is $5.11.
SunOpta (NASDAQ:STKL) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.01. The company earned $352.30 million during the quarter, compared to analyst estimates of $351.60 million. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. On average, analysts anticipate that SunOpta Inc. will post $0.24 earnings per share for the current year.
In related news, Director Douglas Greene bought 50,000 shares of SunOpta stock in a transaction on Friday, May 20th. The shares were purchased at an average price of $3.77 per share, for a total transaction of $188,500.00. Following the completion of the acquisition, the director now owns 265,543 shares in the company, valued at $1,001,097.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Hendrik Jacobs bought 7,000 shares of SunOpta stock in a transaction on Friday, May 20th. The shares were bought at an average price of $3.85 per share, for a total transaction of $26,950.00. Following the acquisition, the chief executive officer now owns 41,638 shares of the company’s stock, valued at approximately $160,306.30. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. Morgan Stanley raised its position in SunOpta by 123,646.6% in the fourth quarter. Morgan Stanley now owns 6,693,454 shares of the company’s stock valued at $45,783,000 after buying an additional 6,688,045 shares during the period. Baker Chad R bought a new position in SunOpta during the fourth quarter valued at $2,977,000. Finally, Jennison Associates LLC raised its position in SunOpta by 6.8% in the fourth quarter. Jennison Associates LLC now owns 4,234,596 shares of the company’s stock valued at $28,965,000 after buying an additional 270,963 shares during the period.
SunOpta Inc operates businesses focused on a healthy products portfolio. The Company operates through two segments: Global Ingredients and Consumer Products. Its Global Ingredients segment aggregates its North American and international raw material sourcing and supply operating segments focused on the procurement, processing and sale of specialty and organic grains and seeds, fruits, grain- and cocoa-based ingredients, and other commodities.
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