SunOpta (NASDAQ:STKL) Stock Price Down 6.8% After Insider Selling

SunOpta Inc. (NASDAQ:STKLGet Rating) (TSE:SOY) was down 6.8% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $9.54 and last traded at $9.57. Approximately 38,147 shares changed hands during trading, a decline of 95% from the average daily volume of 816,836 shares. The stock had previously closed at $10.27.

Specifically, SVP Barend Reijn sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $10.41, for a total transaction of $312,300.00. Following the sale, the senior vice president now owns 34,068 shares of the company’s stock, valued at $354,647.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SunOpta news, insider Robert Duchscher sold 26,638 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $10.82, for a total transaction of $288,223.16. Following the sale, the insider now owns 52,094 shares of the company’s stock, valued at $563,657.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Barend Reijn sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $10.41, for a total transaction of $312,300.00. Following the sale, the senior vice president now directly owns 34,068 shares in the company, valued at approximately $354,647.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,638 shares of company stock valued at $1,091,863. 4.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STKL. Cowen lifted their target price on shares of SunOpta to $15.00 in a report on Monday, August 15th. StockNews.com cut shares of SunOpta from a “hold” rating to a “sell” rating in a report on Tuesday. Canaccord Genuity Group lifted their target price on shares of SunOpta from $12.00 to $14.00 in a report on Friday, August 12th. Finally, Craig Hallum boosted their price objective on shares of SunOpta to $18.00 in a research note on Monday, August 15th.

SunOpta Stock Down 6.3 %

The company has a current ratio of 2.18, a quick ratio of 0.70 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -481.00 and a beta of 1.50. The firm’s 50 day simple moving average is $9.64 and its 200-day simple moving average is $7.57.

Hedge Funds Weigh In On SunOpta

Several institutional investors have recently bought and sold shares of STKL. Driehaus Capital Management LLC purchased a new stake in shares of SunOpta during the 2nd quarter worth $14,936,000. Kennedy Capital Management Inc. boosted its position in shares of SunOpta by 235.9% during the 4th quarter. Kennedy Capital Management Inc. now owns 2,660,691 shares of the company’s stock worth $18,492,000 after purchasing an additional 1,868,637 shares in the last quarter. Royal Bank of Canada boosted its position in shares of SunOpta by 5,847.3% during the 1st quarter. Royal Bank of Canada now owns 1,365,254 shares of the company’s stock worth $6,853,000 after purchasing an additional 1,342,298 shares in the last quarter. Woodline Partners LP boosted its position in shares of SunOpta by 106.9% during the 2nd quarter. Woodline Partners LP now owns 2,483,082 shares of the company’s stock worth $19,318,000 after purchasing an additional 1,283,001 shares in the last quarter. Finally, State Street Corp boosted its position in shares of SunOpta by 3,256.3% during the 2nd quarter. State Street Corp now owns 1,240,051 shares of the company’s stock worth $9,648,000 after purchasing an additional 1,203,104 shares in the last quarter. 79.57% of the stock is owned by institutional investors and hedge funds.

SunOpta Company Profile

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SunOpta Inc manufactures and sells plant-based and fruit-based food and beverage products to retail customers, foodservice distributors, branded food companies, and food manufacturers worldwide. The company operates through two segments, Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages.

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