Seneca Foods Corp (NASDAQ:SENEA) Sees Large Growth in Short Interest

Seneca Foods Corp (NASDAQ:SENEA) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 113,700 shares, a growth of 10.5% from the June 30th total of 102,900 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 19,800 shares, the short-interest ratio is currently 5.7 days.

Shares of Seneca Foods stock traded up $0.08 during trading hours on Thursday, hitting $25.50. The company’s stock had a trading volume of 7,000 shares, compared to its average volume of 18,736. The business has a 50 day moving average price of $28.60 and a two-hundred day moving average price of $26.65. Seneca Foods has a 12-month low of $21.97 and a 12-month high of $35.90. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.91 and a quick ratio of 0.66.

Seneca Foods (NASDAQ:SENEA) last announced its quarterly earnings data on Thursday, June 13th. The company reported ($0.14) EPS for the quarter. Seneca Foods had a net margin of 1.28% and a negative return on equity of 6.09%. The business had revenue of $262.59 million during the quarter.

Separately, BidaskClub downgraded Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 10th.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in shares of Seneca Foods by 608.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,501 shares of the company’s stock worth $37,000 after purchasing an additional 1,289 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of Seneca Foods in the fourth quarter worth about $54,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Seneca Foods in the fourth quarter worth about $74,000. MetLife Investment Advisors LLC bought a new stake in shares of Seneca Foods in the fourth quarter worth about $101,000. Finally, KBC Group NV increased its holdings in shares of Seneca Foods by 15.7% in the second quarter. KBC Group NV now owns 7,638 shares of the company’s stock worth $213,000 after purchasing an additional 1,036 shares during the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Seneca Foods Company Profile

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. It offers canned, frozen, and bottled produce; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, READ, Green Valley, Cherryman, and Seneca Farms.

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