SunOpta (NASDAQ:STKL) Shares Up 6.5% – Time to Buy?

Shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) were up 6.5% on Tuesday . The stock traded as high as $4.68 and last traded at $4.4950. Approximately 436,561 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,152,156 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

STKL has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of SunOpta in a research note on Monday, December 29th. Zacks Research lowered shares of SunOpta from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Mizuho dropped their price target on shares of SunOpta from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, DA Davidson set a $8.00 price objective on shares of SunOpta in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $8.00.

SunOpta Stock Performance

The stock has a market capitalization of $562.70 million, a price-to-earnings ratio of 23.37 and a beta of 1.08. The company has a 50 day simple moving average of $3.81 and a 200-day simple moving average of $5.26. The company has a quick ratio of 0.37, a current ratio of 0.98 and a debt-to-equity ratio of 1.34.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. SunOpta had a net margin of 0.16% and a return on equity of 14.91%. The company had revenue of $205.41 million during the quarter, compared to the consensus estimate of $195.57 million. As a group, equities research analysts expect that SunOpta, Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Greg Gaba acquired 15,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $3.39 per share, for a total transaction of $50,850.00. Following the completion of the acquisition, the chief financial officer owned 110,970 shares of the company’s stock, valued at approximately $376,188.30. This trade represents a 15.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Trading of SunOpta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in SunOpta in the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in shares of SunOpta by 764.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,502 shares of the company’s stock worth $26,000 after purchasing an additional 3,981 shares during the period. BNP Paribas Financial Markets raised its position in shares of SunOpta by 65.5% during the second quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $54,000 after purchasing an additional 3,669 shares during the period. State of Wyoming bought a new position in shares of SunOpta in the 3rd quarter worth $61,000. Finally, Bank of Montreal Can bought a new position in shares of SunOpta in the 2nd quarter worth $68,000. 85.39% of the stock is owned by institutional investors.

SunOpta Company Profile

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.