SunOpta (NASDAQ:STKL) Shares Up 6.5%

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

Analyst Ratings Changes

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

SunOpta Stock Up 6.7 %

The stock's 50 day moving average is $6.44 and its 200 day moving average is $5.46. The firm has a market cap of $752.39 million, a price-to-earnings ratio of -4.16 and a beta of 1.73. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 1.48.

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

Insider Activity at SunOpta

In related news, insider Joseph Ennen sold 150,000 shares of SunOpta stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value 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 approximately $12,012,019.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other SunOpta news, insider Joseph Ennen sold 150,000 shares of the business's stock in a transaction 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 approximately $12,012,019.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian W. Kocher bought 36,000 shares of the business's stock in a transaction on Monday, March 4th. The shares were purchased at an average cost of $6.75 per share, with a total value of $243,000.00. Following the transaction, 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.

Hedge Funds Weigh In On SunOpta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Epiq Partners LLC boosted its position in SunOpta by 1.3% in the first quarter. Epiq Partners LLC now owns 295,455 shares of the company's stock valued at $2,030,000 after buying an additional 3,750 shares in the last quarter. Spouting Rock Asset Management LLC acquired a new position in shares of SunOpta during the fourth quarter worth approximately $108,000. Granahan Investment Management LLC lifted its position in shares of SunOpta by 1,291.2% during the fourth quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company's stock worth $13,094,000 after purchasing an additional 2,221,718 shares in the last quarter. CastleKnight Management LP acquired a new position in shares of SunOpta during the fourth quarter worth approximately $8,743,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of SunOpta by 300.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,821 shares of the company's stock worth $108,000 after purchasing an additional 14,876 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

SunOpta Company 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.