SunOpta Inc. (STKL) Sees Strong Trading Volume
SunOpta Inc. (NASDAQ:STKL) saw strong trading volume on Monday . 1,231,779 shares were traded during mid-day trading, an increase of 39% from the previous session’s volume of 883,248 shares.The stock last traded at $5.26 and had previously closed at $5.09.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th. AltaCorp Capital reiterated an “outperform” rating on shares of SunOpta in a research report on Tuesday, June 21st. Canaccord Genuity reiterated a “buy” rating and issued a $10.00 target price on shares of SunOpta in a research report on Wednesday, April 13th. Finally, DA Davidson upgraded SunOpta from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research report on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $9.50.
The firm’s 50-day moving average is $4.71 and its 200-day moving average is $4.99. The company’s market cap is $448.07 million.
SunOpta (NASDAQ:STKL) last released its earnings results on Tuesday, May 10th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business earned $352.30 million during the quarter, compared to the consensus estimate of $351.60 million. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. On average, analysts forecast that SunOpta Inc. will post $0.24 earnings per share for the current year.
In other SunOpta news, CEO Hendrik Jacobs bought 7,000 shares of the company’s 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 transaction, the chief executive officer now owns 41,638 shares of the company’s stock, valued at approximately $160,306.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas Greene bought 50,000 shares of the company’s stock in a transaction on Friday, May 20th. The shares were acquired at an average price of $3.77 per share, for a total transaction of $188,500.00. Following the transaction, the director now directly owns 265,543 shares in the company, valued at approximately $1,001,097.11. The disclosure for this purchase can be found here.
A number of institutional investors have added to or reduced their stakes in the company. Morgan Stanley boosted 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 last quarter. Jennison Associates LLC boosted 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 last quarter. Baker Chad R acquired a new position in SunOpta during the fourth quarter valued at about $2,977,000. Finally, Dimensional Fund Advisors LP boosted its position in SunOpta by 56.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 151,928 shares of the company’s stock valued at $1,039,000 after buying an additional 54,539 shares during 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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