SunOpta (NASDAQ:STKL) Shares Gap Up to $5.65

SunOpta Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY shares gapped up prior to trading on Thursday . The stock had previously closed at $5.65, but opened at $6.87. SunOpta shares last traded at $6.29, with a volume of 686,839 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have commented on STKL shares. DA Davidson boosted their target price on SunOpta from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. BMO Capital Markets increased their price objective on shares of SunOpta from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group boosted their price target on SunOpta from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.40.

SunOpta Stock Performance

The stock has a market cap of $693.40 million, a price-to-earnings ratio of -4.11 and a beta of 1.73. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.19 and a quick ratio of 0.65. The stock's 50-day moving average is $6.49 and its 200-day moving average is $5.66.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $182.80 million for the quarter, compared to analysts' expectations of $168.87 million. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The business's revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. Analysts anticipate that SunOpta Inc. will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at SunOpta

In related news, insider Joseph Ennen sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the completion of the transaction, the insider now owns 1,743,399 shares of the company's stock, valued at $12,012,019.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SunOpta news, insider Joseph Ennen sold 150,000 shares of the business'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 completion of the sale, the insider now owns 1,743,399 shares of the company's stock, valued at $12,012,019.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian W. Kocher acquired 36,000 shares of the business's stock in a transaction dated Monday, March 4th. The stock was purchased at an average price of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the acquisition, the chief executive officer now owns 36,000 shares in the company, valued at $243,000. The disclosure for this purchase can be found here. 6.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STKL. Cedar Wealth Management LLC purchased a new stake in shares of SunOpta during the 3rd quarter valued at about $153,000. First Trust Direct Indexing L.P. boosted its stake in shares of 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 period. Kornitzer Capital Management Inc. KS boosted its position in SunOpta by 22.0% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 311,000 shares of the company's stock valued at $1,048,000 after buying an additional 56,150 shares during the last quarter. Zazove Associates LLC grew its stake in shares of SunOpta by 67.1% during the third quarter. Zazove Associates LLC now owns 482,023 shares of the company's stock valued at $1,624,000 after acquiring an additional 193,484 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of SunOpta by 65.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,904,312 shares of the company's stock worth $13,158,000 after acquiring an additional 1,546,567 shares during the last quarter. 85.39% of the stock is owned by hedge funds and other 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.