SunOpta (NASDAQ:STKL) Trading Up 8.2% – Here’s What Happened

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s stock price was up 8.2% during mid-day trading on Thursday . The company traded as high as $6.34 and last traded at $6.34. Approximately 206,354 shares were traded during trading, a decline of 74% from the average daily volume of 793,815 shares. The stock had previously closed at $5.86.

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson reissued a “buy” rating and set a $9.00 price target on shares of SunOpta in a report on Thursday, October 10th. StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a report on Thursday, October 10th.

SunOpta Stock Performance

The stock has a market cap of $763.77 million, a P/E ratio of -4.17 and a beta of 1.83. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The stock has a 50-day simple moving average of $6.20 and a 200-day simple moving average of $5.85.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The company had revenue of $171.00 million during the quarter, compared to analysts’ expectations of $159.95 million. During the same period in the prior year, the company earned ($0.03) EPS. SunOpta’s revenue was down 17.7% compared to the same quarter last year. Research analysts forecast that SunOpta Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On SunOpta

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its stake in shares of SunOpta by 321.9% in the second quarter. Harbor Capital Advisors Inc. now owns 467,515 shares of the company’s stock worth $2,525,000 after purchasing an additional 356,700 shares during the last quarter. Blair William & Co. IL increased its stake in shares of SunOpta by 77.0% in the first quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock valued at $13,543,000 after buying an additional 857,603 shares during the period. Hodges Capital Management Inc. raised its position in shares of SunOpta by 11.2% during the second quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock worth $17,273,000 after acquiring an additional 323,397 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SunOpta by 7.5% in the first quarter. Vanguard Group Inc. now owns 642,505 shares of the company’s stock worth $4,414,000 after acquiring an additional 44,905 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in SunOpta during the 3rd quarter valued at approximately $6,394,000. 85.39% of the stock is owned by institutional investors.

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.