SunOpta (NASDAQ:STKL) Stock Passes Above 200 Day Moving Average - Here's Why

SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY's share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.98 and traded as high as $6.29. SunOpta shares last traded at $6.14, with a volume of 639,404 shares.

SunOpta Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.43 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $711.12 million, a price-to-earnings ratio of -46.54 and a beta of 1.43. The stock has a 50-day simple moving average of $6.04 and a 200 day simple moving average of $5.99.

SunOpta (NASDAQ:STKL - Get Free Report) TSE: SOY last issued its earnings results on Wednesday, May 7th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. SunOpta had a positive return on equity of 11.65% and a negative net margin of 1.90%. The firm had revenue of $201.63 million for the quarter, compared to the consensus estimate of $195.09 million. On average, equities research analysts forecast that SunOpta, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In related news, CEO Brian W. Kocher bought 10,000 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were bought at an average cost of $5.72 per share, for a total transaction of $57,200.00. Following the completion of the acquisition, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $57,200. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On SunOpta

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bayesian Capital Management LP lifted its position 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 purchasing an additional 1,523 shares during the last quarter. EP Wealth Advisors LLC increased its stake in SunOpta by 11.9% in the first quarter. EP Wealth Advisors LLC now owns 16,477 shares of the company's stock valued at $80,000 after acquiring an additional 1,747 shares during the period. Quadrant Capital Group LLC grew its stake in shares of SunOpta by 15.2% in the 4th quarter. Quadrant Capital Group LLC now owns 14,542 shares of the company's stock valued at $112,000 after purchasing an additional 1,923 shares during the period. XTX Topco Ltd raised its stake in SunOpta by 3.3% during the first quarter. XTX Topco Ltd now owns 72,636 shares of the company's stock worth $353,000 after acquiring an additional 2,354 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SunOpta by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,001 shares of the company's stock worth $272,000 after purchasing an additional 2,424 shares in the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.

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.