SunOpta (NASDAQ:STKL) Stock Price Down 4.6% – Here’s What Happened

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s stock price dropped 4.6% on Monday . The company traded as low as $5.90 and last traded at $5.96. Approximately 255,391 shares traded hands during trading, a decline of 66% from the average daily volume of 760,103 shares. The stock had previously closed at $6.24.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded SunOpta from a “sell” rating to a “hold” rating in a research report on Tuesday, March 11th.

SunOpta Trading Down 3.1%

The business has a 50-day moving average price of $4.94 and a two-hundred day moving average price of $6.35. The stock has a market capitalization of $704.08 million, a P/E ratio of -33.28 and a beta of 1.50. The company has a current ratio of 1.20, a quick ratio of 0.53 and a debt-to-equity ratio of 1.61.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its earnings results on Wednesday, May 7th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $201.63 million during the quarter, compared to the consensus estimate of $195.09 million. SunOpta had a positive return on equity of 7.92% and a negative net margin of 2.74%. On average, analysts expect that SunOpta Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity

In other news, SVP Bryan P. Clark sold 8,500 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $5.32, for a total transaction of $45,220.00. Following the completion of the transaction, the senior vice president now owns 28,150 shares of the company’s stock, valued at approximately $149,758. The trade was a 23.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On SunOpta

A number of institutional investors have recently modified their holdings of the business. Bayesian Capital Management LP raised 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 worth $89,000 after buying an additional 1,523 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in shares of SunOpta by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 132,879 shares of the company’s stock worth $1,023,000 after buying an additional 1,549 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of SunOpta by 11.9% during the 1st quarter. EP Wealth Advisors LLC now owns 16,477 shares of the company’s stock worth $80,000 after buying an additional 1,747 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of SunOpta by 15.2% during the 4th quarter. Quadrant Capital Group LLC now owns 14,542 shares of the company’s stock worth $112,000 after buying an additional 1,923 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of SunOpta by 3.3% during the 1st quarter. XTX Topco Ltd now owns 72,636 shares of the company’s stock worth $353,000 after buying an additional 2,354 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.