SunOpta (NASDAQ:STKL) Shares Up 6.5%

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) shares rose 6.5% during mid-day trading on Monday . The company traded as high as $6.37 and last traded at $6.35. Approximately 524,105 shares traded hands during trading, a decline of 36% from the average daily volume of 814,413 shares. The stock had previously closed at $5.96.

Analyst Upgrades and Downgrades

STKL has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. DA Davidson lifted their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets lifted their target price on SunOpta from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

SunOpta Stock Up 3.0 %

The stock has a 50 day moving average price of $6.45 and a 200 day moving average price of $5.48. The company has a market capitalization of $774.84 million, a P/E ratio of -4.28 and a beta of 1.73. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.65 and a current ratio of 1.19.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The business had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $165.10 million. Equities research analysts forecast that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Activity at SunOpta

In related news, CEO Brian W. Kocher purchased 36,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,000 shares in the company, valued at approximately $243,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Joseph Ennen sold 150,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the sale, the insider now directly owns 1,743,399 shares in the company, valued at $12,012,019.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian W. Kocher purchased 36,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the chief executive officer now owns 36,000 shares of the company’s stock, valued at $243,000. The disclosure for this purchase can be found here. 5.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in SunOpta in the third quarter worth approximately $922,000. Peregrine Capital Management LLC lifted its position in SunOpta by 306.5% in the third quarter. Peregrine Capital Management LLC now owns 940,535 shares of the company’s stock valued at $3,170,000 after purchasing an additional 709,158 shares during the last quarter. Tectonic Advisors LLC lifted its position in SunOpta by 93.5% in the third quarter. Tectonic Advisors LLC now owns 312,075 shares of the company’s stock valued at $1,052,000 after purchasing an additional 150,799 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in SunOpta in the third quarter valued at approximately $153,000. Finally, First Trust Direct Indexing L.P. lifted its position in SunOpta by 26.1% in the third quarter. First Trust Direct Indexing L.P. now owns 21,465 shares of the company’s stock valued at $72,000 after purchasing an additional 4,443 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

About SunOpta

SunOpta Inc engages in manufacture and sale of plant-based and fruit-based food and beverage products in the United States, Canada, and internationally. The company provides plant-based beverages utilizing oat, almond, soy, coconut, rice, hemp, and other bases under the Dream and West Life brands; oat-based creamers under the SOWN brand; ready-to-drink protein shakes; and nut, grain, seed, and legume based beverages; packaged teas and concentrates; and meat and vegetable broths and stocks.