SunOpta (NASDAQ:STKL) Sets New 52-Week Low – Here’s Why

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) reached a new 52-week low on Friday . The company traded as low as $4.86 and last traded at $4.90, with a volume of 307174 shares. The stock had previously closed at $5.03.

Wall Street Analyst Weigh In

STKL has been the topic of several recent research reports. Stephens reissued an “overweight” rating and set a $10.00 price objective on shares of SunOpta in a report on Thursday, January 2nd. StockNews.com raised SunOpta from a “sell” rating to a “hold” rating in a research note on Tuesday, March 11th.

SunOpta Price Performance

The stock has a market cap of $582.01 million, a P/E ratio of -27.00 and a beta of 1.90. The company’s 50 day moving average price is $6.55 and its 200-day moving average price is $6.89. The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its earnings results on Wednesday, February 26th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $193.91 million for the quarter, compared to the consensus estimate of $189.90 million. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. As a group, sell-side analysts expect that SunOpta Inc. will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Bryan P. Clark sold 8,500 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.32, for a total transaction of $45,220.00. Following the completion of the sale, the senior vice president now directly owns 28,150 shares in the company, valued at $149,758. This represents a 23.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.48% of the company’s stock.

Hedge Funds Weigh In On SunOpta

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of SunOpta by 80.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,127,890 shares of the company’s stock valued at $13,579,000 after purchasing an additional 951,462 shares during the period. Rockefeller Capital Management L.P. increased its holdings in SunOpta by 16.6% in the third quarter. Rockefeller Capital Management L.P. now owns 5,504,837 shares of the company’s stock worth $35,122,000 after purchasing an additional 782,338 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in SunOpta by 65.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,761,922 shares of the company’s stock valued at $13,567,000 after buying an additional 698,004 shares during the period. Granahan Investment Management LLC boosted its holdings in shares of SunOpta by 26.9% during the 4th quarter. Granahan Investment Management LLC now owns 2,782,215 shares of the company’s stock worth $21,423,000 after buying an additional 589,485 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SunOpta by 250.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,869 shares of the company’s stock worth $4,848,000 after buying an additional 542,832 shares during the period. Institutional investors and hedge funds 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.