Inventure Foods Inc. (SNAK) Sees Unusually-High Trading Volume
Shares of Inventure Foods Inc. (NASDAQ:SNAK) saw an uptick in trading volume on Wednesday . 187,651 shares changed hands during trading, an increase of 81% from the previous session’s volume of 103,697 shares.The stock last traded at $9.04 and had previously closed at $8.85.
Several research firms have commented on SNAK. Wunderlich reissued a “buy” rating and set a $10.00 target price on shares of Inventure Foods in a research report on Monday, May 23rd. Zacks Investment Research raised shares of Inventure Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $9.40.
The firm’s market capitalization is $179.99 million. The firm’s 50-day moving average price is $8.00 and its 200-day moving average price is $6.74.
Inventure Foods (NASDAQ:SNAK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.02. During the same quarter in the previous year, the business posted ($0.02) EPS. The business had revenue of $69.30 million for the quarter, compared to analyst estimates of $66.40 million. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts predict that Inventure Foods Inc. will post $0.04 earnings per share for the current fiscal year.
In other Inventure Foods news, Director Paul J. Lapadat acquired 7,000 shares of the business’s stock in a transaction on Friday, May 27th. The shares were acquired at an average price of $7.25 per share, for a total transaction of $50,750.00. Following the completion of the acquisition, the director now owns 20,119 shares in the company, valued at $145,862.75. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Daniel W. Hammer sold 6,055 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $7.16, for a total transaction of $43,353.80. Following the completion of the sale, the senior vice president now owns 18,945 shares in the company, valued at approximately $135,646.20. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Inventure Foods stock. State of New Jersey Common Pension Fund D bought a new stake in Inventure Foods Inc. (NASDAQ:SNAK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,020,000 shares of the company’s stock, valued at approximately $7,242,000. State of New Jersey Common Pension Fund D owned about 5.20% of Inventure Foods at the end of the most recent quarter.
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in two segments: frozen products and snack products. The frozen products segment produces frozen fruits, vegetables, beverages and frozen desserts for sale primarily to groceries, club stores and mass merchandisers.
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