Granahan Investment Management LLC Has $21.42 Million Stock Position in SunOpta Inc. (NASDAQ:STKL)

Granahan Investment Management LLC lifted its holdings in SunOpta Inc. (NASDAQ:STKL - Free Report) TSE: SOY by 26.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,782,215 shares of the company's stock after purchasing an additional 589,485 shares during the quarter. Granahan Investment Management LLC owned about 2.33% of SunOpta worth $21,423,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP acquired a new position in SunOpta during the 4th quarter worth approximately $36,000. D.A. Davidson & CO. acquired a new stake in shares of SunOpta in the 4th quarter valued at approximately $81,000. Bayesian Capital Management LP lifted its holdings in SunOpta by 15.2% during the 4th quarter. Bayesian Capital Management LP now owns 11,536 shares of the company's stock valued at $89,000 after purchasing an additional 1,523 shares during the last quarter. Mutual Advisors LLC acquired a new stake in SunOpta during the 4th quarter valued at $92,000. Finally, Quadrant Capital Group LLC lifted its holdings in SunOpta by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 14,542 shares of the company's stock valued at $112,000 after purchasing an additional 1,923 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

SunOpta Price Performance

Shares of NASDAQ STKL traded down $0.14 during mid-day trading on Wednesday, reaching $6.17. The company had a trading volume of 886,210 shares, compared to its average volume of 766,199. The business's 50-day simple moving average is $4.73 and its 200 day simple moving average is $6.44. The firm has a market cap of $725.23 million, a price-to-earnings ratio of -34.28 and a beta of 1.50. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.53 and a current ratio of 1.20. SunOpta Inc. has a one year low of $3.65 and a one year high of $8.11.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The company had revenue of $201.63 million during the quarter, compared to analysts' expectations of $195.09 million. On average, research analysts predict that SunOpta Inc. will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded SunOpta from a "sell" rating to a "hold" rating in a research report on Tuesday, March 11th.

Insiders Place Their Bets

In other SunOpta news, SVP Bryan P. Clark sold 8,500 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 28,150 shares of the company's stock, valued at $149,758. The trade was a 23.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company's stock.

SunOpta Profile

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.