Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume - Should You Buy?

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) shares saw an uptick in trading volume on Friday . 104,648 shares traded hands during trading, an increase of 215% from the previous session's volume of 33,213 shares.The stock last traded at $101.34 and had previously closed at $101.59.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Seneca Foods from a "buy" rating to a "hold" rating in a research report on Tuesday, April 29th.

Seneca Foods Stock Down 0.7%

The business's 50-day moving average price is $94.30 and its 200-day moving average price is $85.81. The company has a quick ratio of 0.71, a current ratio of 3.52 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $694.79 million, a PE ratio of 17.12 and a beta of 0.42.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The company reported $1.37 earnings per share (EPS) for the quarter. The business had revenue of $345.84 million during the quarter. Seneca Foods had a net margin of 2.61% and a return on equity of 11.03%.

Hedge Funds Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Seneca Foods by 12,377.1% in the first quarter. GAMMA Investing LLC now owns 19,589 shares of the company's stock valued at $1,744,000 after purchasing an additional 19,432 shares during the period. American Century Companies Inc. raised its position in shares of Seneca Foods by 171.8% in the fourth quarter. American Century Companies Inc. now owns 27,124 shares of the company's stock valued at $2,150,000 after purchasing an additional 17,145 shares during the period. Pullen Investment Management LLC raised its position in shares of Seneca Foods by 46.2% in the fourth quarter. Pullen Investment Management LLC now owns 27,974 shares of the company's stock valued at $2,217,000 after purchasing an additional 8,842 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Seneca Foods by 12.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 28,830 shares of the company's stock valued at $2,285,000 after purchasing an additional 3,157 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Seneca Foods in the fourth quarter valued at approximately $272,000. Institutional investors own 42.51% of the company's stock.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby's, Aunt Nellie's, Cherryman, Green Valley, and READ.