Seneca Foods (NASDAQ:SENEA) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Seneca Foods Corp. (NASDAQ:SENEA) saw unusually-high trading volume on Tuesday . Approximately 128,113 shares changed hands during mid-day trading, an increase of 86% from the previous session’s volume of 68,837 shares.The stock last traded at $156.21 and had previously closed at $155.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Seneca Foods presently has a consensus rating of “Buy”.

Seneca Foods Trading Down 1.1%

The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37. The company’s 50 day simple moving average is $137.84 and its 200-day simple moving average is $122.15. The firm has a market cap of $1.07 billion, a P/E ratio of 12.19 and a beta of 0.03.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings data on Thursday, February 5th. The company reported $6.48 earnings per share for the quarter. The firm had revenue of $508.35 million during the quarter. Seneca Foods had a return on equity of 12.30% and a net margin of 5.58%.

Institutional Investors Weigh In On Seneca Foods

Large investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Seneca Foods by 5.2% during the first quarter. Royal Bank of Canada now owns 7,738 shares of the company’s stock worth $690,000 after acquiring an additional 384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Seneca Foods by 5.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company’s stock worth $250,000 after purchasing an additional 156 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Seneca Foods during the 1st quarter worth approximately $245,000. Empowered Funds LLC increased its holdings in shares of Seneca Foods by 54.0% during the 1st quarter. Empowered Funds LLC now owns 14,865 shares of the company’s stock valued at $1,324,000 after purchasing an additional 5,214 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Seneca Foods during the 2nd quarter valued at approximately $266,000. Hedge funds and other institutional investors own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.