SunOpta (NASDAQ:STKL) Trading Down 3.4% – What’s Next?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s share price traded down 3.4% during trading on Monday . The company traded as low as $6.19 and last traded at $6.20. 51,065 shares were traded during trading, a decline of 94% from the average session volume of 801,710 shares. The stock had previously closed at $6.42.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com raised SunOpta from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. DA Davidson reissued a “buy” rating and issued a $9.00 price target on shares of SunOpta in a report on Thursday, October 10th.

SunOpta Stock Up 0.8 %

The firm has a fifty day moving average of $6.23 and a two-hundred day moving average of $5.88. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $171.00 million during the quarter, compared to the consensus estimate of $159.95 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The company’s revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. Sell-side analysts expect that SunOpta Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On SunOpta

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in SunOpta in the 3rd quarter worth approximately $6,394,000. Blair William & Co. IL grew its position in SunOpta by 77.0% during the first quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock worth $13,543,000 after buying an additional 857,603 shares in the last quarter. Marshall Wace LLP increased its stake in SunOpta by 116.3% in the 2nd quarter. Marshall Wace LLP now owns 1,396,724 shares of the company’s stock worth $7,542,000 after acquiring an additional 751,126 shares during the last quarter. Millennium Management LLC raised its holdings in shares of SunOpta by 52.5% in the 2nd quarter. Millennium Management LLC now owns 1,333,948 shares of the company’s stock valued at $7,202,000 after acquiring an additional 459,053 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of SunOpta by 321.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 467,515 shares of the company’s stock valued at $2,525,000 after acquiring an additional 356,700 shares in 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.