SunOpta Inc. (STKL) Sees Unusually-High Trading Volume
SunOpta Inc. (NASDAQ:STKL) shares saw unusually-strong trading volume on Tuesday . Approximately 428,474 shares changed hands during mid-day trading, a decline of 23% from the previous session’s volume of 556,748 shares.The stock last traded at $5.19 and had previously closed at $5.27.
Several analysts have recently weighed in on STKL shares. AltaCorp Capital restated an “outperform” rating on shares of SunOpta in a report on Tuesday, June 21st. DA Davidson upgraded SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Wednesday, April 13th. Canaccord Genuity restated a “buy” rating and issued a $10.00 price objective on shares of SunOpta in a report on Wednesday, April 13th. Finally, Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $9.50.
The firm’s market cap is $443.79 million. The firm’s 50-day moving average is $4.65 and its 200-day moving average is $5.02.
SunOpta (NASDAQ:STKL) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.01. During the same period last year, the company earned $0.08 earnings per share. The company earned $352.30 million during the quarter, compared to analysts’ expectations of $351.60 million. SunOpta’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that SunOpta Inc. will post $0.24 EPS for the current fiscal year.
In other SunOpta news, Director Douglas Greene purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $3.77 per share, with a total value of $188,500.00. Following the acquisition, the director now directly owns 265,543 shares of the company’s stock, valued at approximately $1,001,097.11. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hendrik Jacobs purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were acquired at an average cost of $3.85 per share, with a total value of $26,950.00. Following the completion of the acquisition, the chief executive officer now directly owns 41,638 shares in the company, valued at $160,306.30. The disclosure for this purchase can be found here.
A number of large investors have added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in SunOpta by 56.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 151,928 shares of the company’s stock worth $1,039,000 after buying an additional 54,539 shares in the last quarter. Jennison Associates LLC boosted its stake in SunOpta by 6.8% in the fourth quarter. Jennison Associates LLC now owns 4,234,596 shares of the company’s stock worth $28,965,000 after buying an additional 270,963 shares in the last quarter. Baker Chad R acquired a new stake in SunOpta during the fourth quarter worth $2,977,000. Finally, Morgan Stanley boosted its stake in SunOpta by 123,646.6% in the fourth quarter. Morgan Stanley now owns 6,693,454 shares of the company’s stock worth $45,783,000 after buying an additional 6,688,045 shares in the last quarter.
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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