Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume - Here's Why

Seneca Foods Co. (NASDAQ:SENEA - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 59,928 shares were traded during mid-day trading, an increase of 148% from the previous session's volume of 24,180 shares.The stock last traded at $93.88 and had previously closed at $96.26.

Analyst Ratings Changes

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

Seneca Foods Stock Up 1.2%

The firm has a market cap of $650.16 million, a P/E ratio of 17.24 and a beta of 0.41. The stock's 50 day simple moving average is $88.42 and its 200 day simple moving average is $81.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.36 and a current ratio of 3.38.

Institutional Trading of Seneca Foods

Institutional investors and hedge funds have recently modified their holdings of the stock. Edge Capital Group LLC bought a new stake in Seneca Foods in the 4th quarter worth about $5,919,000. Peapod Lane Capital LLC bought a new stake in Seneca Foods during the fourth quarter worth $4,627,000. Royce & Associates LP grew its stake in Seneca Foods by 17.4% in the 4th quarter. Royce & Associates LP now owns 300,363 shares of the company's stock valued at $23,807,000 after purchasing an additional 44,462 shares during the period. American Century Companies Inc. raised its stake in shares of Seneca Foods by 161.5% during the 1st quarter. American Century Companies Inc. now owns 70,929 shares of the company's stock worth $6,316,000 after purchasing an additional 43,805 shares during the period. Finally, Shufro Rose & Co. LLC boosted its holdings in shares of Seneca Foods by 259.1% in the 1st quarter. Shufro Rose & Co. LLC now owns 34,650 shares of the company's stock worth $3,085,000 after buying an additional 25,000 shares during the last quarter. 42.51% of the stock is owned by hedge funds and other institutional investors.

Seneca Foods Company Profile

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.