SunOpta (NASDAQ:STKL) Sees Strong Trading Volume - Should You Buy?

SunOpta Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY shares saw an uptick in trading volume on Thursday . 2,827,778 shares traded hands during mid-day trading, an increase of 265% from the previous session's volume of 774,170 shares.The stock last traded at $5.74 and had previously closed at $5.76.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of SunOpta from a "sell" rating to a "hold" rating in a research note on Tuesday, March 11th.

SunOpta Stock Down 0.7%

The company has a current ratio of 1.20, a quick ratio of 0.53 and a debt-to-equity ratio of 1.61. The firm has a market cap of $669.99 million, a price-to-earnings ratio of -31.66 and a beta of 1.47. The firm has a 50-day moving average of $5.00 and a two-hundred day moving average of $6.31.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. The company had revenue of $201.63 million for the quarter, compared to the consensus estimate of $195.09 million. As a group, sell-side analysts predict that SunOpta Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity at SunOpta

In other SunOpta news, SVP Bryan P. Clark sold 8,500 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.32, for a total value of $45,220.00. Following the sale, the senior vice president now directly owns 28,150 shares in the company, valued at $149,758. This trade represents a 23.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On SunOpta

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of SunOpta during the 4th quarter worth approximately $36,000. EP Wealth Advisors LLC boosted its stake in SunOpta by 11.9% during the first quarter. EP Wealth Advisors LLC now owns 16,477 shares of the company's stock worth $80,000 after buying an additional 1,747 shares in the last quarter. D.A. Davidson & CO. bought a new stake in SunOpta in the 4th quarter valued at $81,000. State of Wyoming acquired a new position in shares of SunOpta in the 1st quarter valued at $81,000. Finally, Bayesian Capital Management LP lifted its holdings in shares of SunOpta by 15.2% during the 4th quarter. Bayesian Capital Management LP now owns 11,536 shares of the company's stock worth $89,000 after acquiring an additional 1,523 shares during the period. Institutional investors and hedge funds own 85.39% of the company's stock.

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.