SunOpta (NASDAQ:STKL) Trading Up 9%

Shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) were up 9% during mid-day trading on Tuesday . The company traded as high as $2.46 and last traded at $2.42, approximately 819,193 shares changed hands during trading. An increase of 76% from the average daily volume of 465,531 shares. The stock had previously closed at $2.22.

A number of equities research analysts have issued reports on STKL shares. Zacks Investment Research raised SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub downgraded SunOpta from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. ValuEngine raised SunOpta from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Citigroup set a $3.00 price target on SunOpta and gave the company a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.00.

The stock has a 50-day simple moving average of $2.79 and a 200-day simple moving average of $3.48. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.23 and a quick ratio of 0.37. The stock has a market cap of $205.34 million, a PE ratio of -8.54 and a beta of 0.72.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). SunOpta had a negative net margin of 6.93% and a negative return on equity of 14.49%. The firm had revenue of $293.00 million for the quarter, compared to analysts’ expectations of $302.40 million. As a group, equities research analysts anticipate that SunOpta, Inc. will post -0.39 EPS for the current year.

In related news, insider Robert Duchscher bought 19,310 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $2.23 per share, with a total value of $43,061.30. Following the completion of the transaction, the insider now directly owns 66,245 shares of the company’s stock, valued at $147,726.35. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph Ennen bought 50,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $3.98 per share, with a total value of $199,000.00. Following the transaction, the chief executive officer now directly owns 219,000 shares of the company’s stock, valued at $871,620. The disclosure for this purchase can be found here. Insiders bought 344,670 shares of company stock valued at $838,810 in the last ninety days. Company insiders own 1.75% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in SunOpta by 11.5% during the 4th quarter. BlackRock Inc. now owns 230,309 shares of the company’s stock valued at $891,000 after acquiring an additional 23,666 shares during the period. Millennium Management LLC purchased a new position in SunOpta during the 4th quarter valued at about $117,000. Boyar Asset Management Inc. boosted its holdings in SunOpta by 73.5% during the 1st quarter. Boyar Asset Management Inc. now owns 57,510 shares of the company’s stock valued at $199,000 after acquiring an additional 24,372 shares during the period. Hollencrest Capital Management purchased a new position in SunOpta during the 1st quarter valued at about $87,000. Finally, Ironwood Investment Management LLC boosted its holdings in SunOpta by 6.1% during the 1st quarter. Ironwood Investment Management LLC now owns 124,640 shares of the company’s stock valued at $431,000 after acquiring an additional 7,151 shares during the period. 76.89% of the stock is owned by institutional investors.

About SunOpta (NASDAQ:STKL)

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.

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