SunOpta (NASDAQ:STKL) Trading Down 6.4% – Here’s What Happened

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) dropped 6.4% during trading on Monday . The stock traded as low as $5.70 and last traded at $5.72. Approximately 506,727 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 805,924 shares. The stock had previously closed at $6.11.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a report on Monday, September 30th.

SunOpta Price Performance

The firm has a market cap of $742.29 million, a price-to-earnings ratio of -4.07 and a beta of 1.83. The company has a quick ratio of 0.61, a current ratio of 1.27 and a debt-to-equity ratio of 1.67. The company’s 50-day moving average price is $6.11 and its 200-day moving average price is $5.90.

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

Institutional Trading of SunOpta

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in SunOpta by 18.2% in the first quarter. Principal Financial Group Inc. now owns 12,425 shares of the company’s stock valued at $85,000 after acquiring an additional 1,917 shares in the last quarter. Mackenzie Financial Corp raised its holdings in SunOpta by 0.9% in the second quarter. Mackenzie Financial Corp now owns 254,678 shares of the company’s stock valued at $1,370,000 after acquiring an additional 2,155 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in SunOpta by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,913 shares of the company’s stock valued at $185,000 after acquiring an additional 3,171 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in SunOpta by 10.5% in the second quarter. The Manufacturers Life Insurance Company now owns 36,958 shares of the company’s stock valued at $200,000 after acquiring an additional 3,521 shares in the last quarter. Finally, Epiq Partners LLC raised its holdings in SunOpta by 1.3% in the first quarter. Epiq Partners LLC now owns 295,455 shares of the company’s stock valued at $2,030,000 after acquiring an additional 3,750 shares in the last quarter. Institutional investors and hedge funds 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.