SunOpta (NASDAQ:STKL) Shares Down 4.2% - Here's Why

SunOpta, Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY's stock price dropped 4.2% during mid-day trading on Wednesday . The company traded as low as $6.20 and last traded at $6.21. Approximately 460,491 shares were traded during trading, a decline of 47% from the average daily volume of 869,271 shares. The stock had previously closed at $6.48.

SunOpta Trading Up 3.6%

The company has a market cap of $756.37 million, a P/E ratio of -49.50 and a beta of 1.43. The business has a fifty day moving average price of $5.87 and a 200-day moving average price of $6.04. The company has a quick ratio of 0.43, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

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

Insider Buying and Selling

In other news, CEO Brian W. Kocher acquired 10,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was acquired at an average cost of $5.72 per share, for a total transaction of $57,200.00. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $57,200. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of SunOpta

A number of hedge funds and other institutional investors have recently modified their holdings of STKL. Granahan Investment Management LLC grew its stake in shares of SunOpta by 26.9% during the fourth quarter. Granahan Investment Management LLC now owns 2,782,215 shares of the company's stock worth $21,423,000 after buying an additional 589,485 shares during the last quarter. Franklin Resources Inc. boosted its position in SunOpta by 1,015.0% during the fourth quarter. Franklin Resources Inc. now owns 587,749 shares of the company's stock valued at $4,526,000 after acquiring an additional 535,034 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in SunOpta during the fourth quarter valued at $4,027,000. Cooperman Leon G boosted its position in SunOpta by 9.1% during the first quarter. Cooperman Leon G now owns 6,097,331 shares of the company's stock valued at $29,633,000 after acquiring an additional 507,990 shares during the last quarter. Finally, Portolan Capital Management LLC boosted its position in SunOpta by 32.8% during the fourth quarter. Portolan Capital Management LLC now owns 1,667,498 shares of the company's stock valued at $12,840,000 after acquiring an additional 411,567 shares during the last quarter. Institutional investors own 85.39% of the company's stock.

About SunOpta

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.