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

Key Points

• SunOpta crossed above its 200-day moving average (200‑day MA $5.18), trading as high as $6.51 and last at $6.50 on volume of about 1.26 million shares.
• Analyst coverage is mixed with a consensus rating of "Hold" and an average price target of $8.00 (2 Buy, 2 Hold, 1 Sell), including a DA Davidson buy at $8 and a William Blair downgrade to Hold.
• Institutional investors own 85.39% of the stock, with recent position increases reported by Thornburg, Cooperman, GSA Capital and First Eagle.

SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.18 and traded as high as $6.51. SunOpta shares last traded at $6.50, with a volume of 1,263,586 shares changing hands.

Wall Street Analyst Weigh In

STKL has been the topic of several analyst reports. DA Davidson reissued a "buy" rating and set a $8.00 target price on shares of SunOpta in a research report on Monday, February 9th. William Blair downgraded SunOpta from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of SunOpta in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.00.

SunOpta Stock Up 0.2%

The company has a 50-day simple moving average of $6.42 and a 200 day simple moving average of $5.18. The company has a market cap of $785.53 million, a P/E ratio of 50.00 and a beta of 1.03. The company has a current ratio of 1.18, a quick ratio of 0.61 and a debt-to-equity ratio of 1.27.

Hedge Funds Weigh In On SunOpta

Hedge funds have recently bought and sold shares of the business. Thornburg Investment Management Inc. grew its position in SunOpta by 12.4% in the 3rd quarter. Thornburg Investment Management Inc. now owns 2,088,513 shares of the company's stock valued at $12,239,000 after acquiring an additional 230,226 shares during the last quarter. Cooperman Leon G grew its position in shares of SunOpta by 2.5% during the 3rd quarter. Cooperman Leon G now owns 6,667,109 shares of the company's stock worth $39,069,000 after buying an additional 160,058 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of SunOpta by 47.3% during the 3rd quarter. GSA Capital Partners LLP now owns 333,839 shares of the company's stock worth $1,956,000 after buying an additional 107,222 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of SunOpta by 21.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 709,750 shares of the company's stock worth $4,159,000 after buying an additional 123,000 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of SunOpta during the 3rd quarter worth $77,000. Institutional investors own 85.39% of the company's stock.

SunOpta Company Profile

SunOpta Inc NASDAQ: STKL is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company's product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta's integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.

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