SunOpta (NASDAQ:STKL) Shares Gap Down – Here’s What Happened

Shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) gapped down prior to trading on Thursday . The stock had previously closed at $7.39, but opened at $7.00. SunOpta shares last traded at $6.01, with a volume of 346,024 shares trading hands.

Wall Street Analyst Weigh In

STKL has been the subject of a number of analyst reports. Stephens reiterated an “overweight” rating and set a $10.00 target price on shares of SunOpta in a report on Thursday, January 2nd. StockNews.com raised SunOpta from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th.

SunOpta Trading Down 0.8 %

The stock’s 50-day simple moving average is $7.40 and its 200-day simple moving average is $6.97. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.53 and a current ratio of 1.20. The firm has a market capitalization of $750.76 million, a PE ratio of -34.83 and a beta of 1.79.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $193.91 million during the quarter, compared to the consensus estimate of $189.90 million. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. As a group, sell-side analysts expect that SunOpta Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On SunOpta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bayesian Capital Management LP boosted its holdings in shares of SunOpta by 15.2% during the 4th quarter. Bayesian Capital Management LP now owns 11,536 shares of the company’s stock valued at $89,000 after buying an additional 1,523 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in SunOpta by 1.2% during the fourth quarter. Ironwood Investment Management LLC now owns 132,879 shares of the company’s stock worth $1,023,000 after acquiring an additional 1,549 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in SunOpta by 15.2% during the fourth quarter. Quadrant Capital Group LLC now owns 14,542 shares of the company’s stock worth $112,000 after acquiring an additional 1,923 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in SunOpta by 18.7% in the fourth quarter. EP Wealth Advisors LLC now owns 14,730 shares of the company’s stock worth $113,000 after purchasing an additional 2,316 shares during the period. Finally, Creative Planning increased its stake in shares of SunOpta by 9.3% during the third quarter. Creative Planning now owns 30,716 shares of the company’s stock valued at $196,000 after purchasing an additional 2,617 shares in the last quarter. 85.39% of the stock is owned by hedge funds and other institutional investors.

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.