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

Key Points

• Seneca Foods saw unusually-high trading volume on Tuesday—128,113 shares traded (an 86% increase from the prior session)—with the stock last at $156.21, up about 1.1%.
• Analyst sentiment is broadly positive with an average Buy rating; Wall Street Zen downgraded it from "strong-buy" to "buy" while Weiss Ratings reissued a "buy."
• The company has a market cap of $1.06 billion and a PE of 12.06, reported quarterly EPS of $6.48 on $508.35 million in revenue, and roughly 42.5% of shares are held by institutional investors.

Seneca Foods Corp. (NASDAQ:SENEA - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 128,113 shares changed hands during trading, an increase of 86% from the previous session's volume of 68,837 shares.The stock last traded at $156.21 and had previously closed at $155.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SENEA shares. Wall Street Zen cut shares of Seneca Foods from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Seneca Foods in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy".

Seneca Foods Stock Up 1.1%

The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37. The business's fifty day moving average price is $136.12 and its 200 day moving average price is $121.51. The firm has a market capitalization of $1.06 billion, a PE ratio of 12.06 and a beta of 0.03.

Seneca Foods (NASDAQ:SENEA - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $6.48 earnings per share (EPS) for the quarter. Seneca Foods had a net margin of 5.58% and a return on equity of 12.30%. The business had revenue of $508.35 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its position in Seneca Foods by 5.2% during the first quarter. Royal Bank of Canada now owns 7,738 shares of the company's stock worth $690,000 after buying an additional 384 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Seneca Foods by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,813 shares of the company's stock worth $250,000 after buying an additional 156 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Seneca Foods during the first quarter worth about $245,000. Empowered Funds LLC grew its position in Seneca Foods by 54.0% during the first quarter. Empowered Funds LLC now owns 14,865 shares of the company's stock worth $1,324,000 after buying an additional 5,214 shares during the period. Finally, Creative Planning acquired a new position in Seneca Foods during the second quarter worth about $266,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.

Seneca Foods Company Profile

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company's core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.

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