SunOpta (NASDAQ:STKL) Trading Up 5.6%

Shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) shot up 5.6% on Tuesday . The stock traded as high as $5.86 and last traded at $5.85. 1,284,220 shares traded hands during mid-day trading, an increase of 52% from the average session volume of 843,167 shares. The stock had previously closed at $5.54.

Wall Street Analyst Weigh In

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

SunOpta Trading Up 3.6 %

The stock’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $5.65. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 1.48.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its earnings results on Wednesday, February 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. SunOpta had a positive return on equity of 4.05% and a negative net margin of 22.85%. The business had revenue of $181.62 million for the quarter, compared to analyst estimates of $165.10 million. Sell-side analysts forecast that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at SunOpta

In other SunOpta news, CEO Brian W. Kocher purchased 36,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the acquisition, the chief executive officer now owns 36,000 shares of the company’s stock, valued at approximately $243,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Joseph Ennen sold 150,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was 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 owns 1,743,399 shares in the company, valued at $12,012,019.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian W. Kocher purchased 36,000 shares of SunOpta stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,000 shares in the company, valued at approximately $243,000. The disclosure for this purchase can be found here. Company insiders own 6.48% of the company’s stock.

Institutional Trading of SunOpta

Hedge funds have recently made changes to their positions in the company. Granahan Investment Management LLC grew its holdings in SunOpta by 1,291.2% during the 4th quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock valued at $13,094,000 after purchasing an additional 2,221,718 shares in the last quarter. CastleKnight Management LP purchased a new stake in shares of SunOpta during the fourth quarter worth about $8,743,000. Diamond Hill Capital Management Inc. lifted its stake in shares of SunOpta by 65.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,904,312 shares of the company’s stock worth $13,158,000 after acquiring an additional 1,546,567 shares in the last quarter. First Dallas Securities Inc. boosted its holdings in SunOpta by 1,706.9% in the third quarter. First Dallas Securities Inc. now owns 650,500 shares of the company’s stock valued at $2,192,000 after purchasing an additional 614,500 shares during the last quarter. Finally, Wynnefield Capital Inc. boosted its holdings in SunOpta by 125.2% in the third quarter. Wynnefield Capital Inc. now owns 1,000,000 shares of the company’s stock valued at $3,370,000 after purchasing an additional 556,000 shares during the last quarter. Hedge funds and other institutional investors own 85.39% of the company’s stock.

SunOpta Company Profile

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.