SunOpta Inc. (NASDAQ:STKL) Short Interest Update

SunOpta Inc. (NASDAQ:STKLGet Free Report) (TSE:SOY) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 6,970,000 shares, a drop of 16.8% from the February 29th total of 8,380,000 shares. Based on an average daily trading volume, of 811,100 shares, the short-interest ratio is presently 8.6 days.

SunOpta Price Performance

SunOpta stock opened at $6.87 on Monday. SunOpta has a 1 year low of $2.79 and a 1 year high of $8.58. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.65 and a current ratio of 1.19. The company’s fifty day moving average price is $6.36 and its 200 day moving average price is $5.14. The stock has a market capitalization of $812.51 million, a P/E ratio of -4.49 and a beta of 1.73.

SunOpta (NASDAQ:STKLGet Free Report) (TSE:SOY) last announced its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. The company had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $165.10 million. As a group, equities research analysts anticipate that SunOpta will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Joseph Ennen sold 150,000 shares of SunOpta stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value of $1,033,500.00. Following the completion of the sale, the insider now directly owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SunOpta news, CEO Brian W. Kocher purchased 36,000 shares of SunOpta stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $6.75 per share, with a total value of $243,000.00. Following the transaction, the chief executive officer now owns 36,000 shares of the company’s stock, valued at approximately $243,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph Ennen sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $6.89, for a total transaction of $1,033,500.00. Following the transaction, the insider now directly owns 1,743,399 shares of the company’s stock, valued at $12,012,019.11. The disclosure for this sale can be found here. Company insiders own 4.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SunOpta by 10.2% during the 4th quarter. Vanguard Group Inc. now owns 597,600 shares of the company’s stock valued at $3,269,000 after acquiring an additional 55,352 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of SunOpta by 795.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,650,579 shares of the company’s stock valued at $9,029,000 after acquiring an additional 1,466,338 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of SunOpta by 20.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,742 shares of the company’s stock valued at $130,000 after acquiring an additional 3,999 shares during the last quarter. Spouting Rock Asset Management LLC acquired a new position in shares of SunOpta during the 4th quarter valued at about $108,000. Finally, Townsquare Capital LLC boosted its position in shares of SunOpta by 83.7% during the 4th quarter. Townsquare Capital LLC now owns 40,469 shares of the company’s stock valued at $221,000 after acquiring an additional 18,437 shares during the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. DA Davidson lifted their target price on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets lifted their target price on shares of SunOpta from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.40.

View Our Latest Stock Report on SunOpta

About SunOpta

(Get Free Report)

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.

Further Reading

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