Midera Food Processing (NASDAQ:MFP) Shares Gap Up - Should You Buy?

Key Points

• Midera shares jumped at the open, from a prior close of $42.43 to $45.47, and were recently trading at $46.04 on volume of 56,300 shares.
• Analyst sentiment is mixed: two analysts rate the stock Buy and three Hold, for an overall Hold rating and an average $45 price target.
• A company director bought 10,900 shares for about $491,000, while several institutional investors disclosed new positions in the third quarter.

Midera Food Processing (NASDAQ:MFP - Get Free Report) shares gapped up before the market opened on Tuesday. The stock had previously closed at $42.43, but opened at $45.47. Midera Food Processing shares last traded at $46.0420, with a volume of 56,300 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. William Blair started coverage on Midera Food Processing in a research note on Tuesday, October 20th. They set an "outperform" rating for the company. Zacks Research raised Midera Food Processing to a "hold" rating in a research note on Thursday, July 16th. KeyCorp began coverage on Midera Food Processing in a report on Tuesday, August 25th. They issued a "sector weight" rating on the stock. Wall Street Zen raised shares of Midera Food Processing to a "hold" rating in a research note on Saturday, August 1st. Finally, Oppenheimer started coverage on Midera Food Processing in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $50.00 price target for the company. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Midera Food Processing currently has an average rating of "Hold" and an average price target of $45.00.

Midera Food Processing Trading Down 2.1%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.15. The firm's fifty day simple moving average is $42.27.

Insider Activity at Midera Food Processing

In related news, Director Robert Nerbonne bought 10,900 shares of the business's stock in a transaction on Monday, August 17th. The stock was acquired at an average price of $45.05 per share, with a total value of $491,045.00. Following the transaction, the director owned 32,371 shares in the company, valued at approximately $1,458,313.55. This trade represents a 50.77% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Midera Food Processing during the 3rd quarter worth $27,924,000. Cooke & Bieler LP bought a new stake in shares of Midera Food Processing during the 3rd quarter valued at $19,643,000. Kirr Marbach & Co. LLC IN bought a new stake in shares of Midera Food Processing during the 3rd quarter valued at $10,743,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Midera Food Processing in the 3rd quarter worth $2,613,000. Finally, Yousif Capital Management LLC bought a new position in Midera Food Processing in the 3rd quarter worth $463,000.

About Midera Food Processing

Midera Food Processing Inc provides food processing solutions. The Company specializes in the processing of raw material preparation and production and product packaging for retail and food service applications. Midera Food Processing Inc, formerly known as MINERA FOOD PRC, is based in Rosemont, Illinois.

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