SunOpta (NASDAQ:STKL) Shares Gap Up - Here's Why

SunOpta Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY's share price gapped up before the market opened on Friday . The stock had previously closed at $6.19, but opened at $6.33. SunOpta shares last traded at $6.22, with a volume of 36,961 shares changing hands.

Wall Street Analyst Weigh In

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

SunOpta Price Performance

The stock has a market capitalization of $721.71 million, a PE ratio of -34.11 and a beta of 1.50. The firm's fifty day moving average price is $4.93 and its two-hundred day moving average price is $6.35. The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61.

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

Insider Activity at SunOpta

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

Hedge Funds Weigh In On SunOpta

Several institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in SunOpta during the fourth quarter valued at approximately $36,000. EP Wealth Advisors LLC boosted its stake in shares of SunOpta by 11.9% during the 1st quarter. EP Wealth Advisors LLC now owns 16,477 shares of the company's stock worth $80,000 after acquiring an additional 1,747 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of SunOpta during the 4th quarter valued at $81,000. State of Wyoming purchased a new stake in shares of SunOpta in the 1st quarter worth $81,000. Finally, Bayesian Capital Management LP raised its holdings in SunOpta by 15.2% in 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 period. Institutional investors 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.