Seneca Foods (NASDAQ:SENEA) Stock Price Down 6% – What’s Next?

Seneca Foods Corp. (NASDAQ:SENEA)’s stock price was down 6% during mid-day trading on Thursday . The company traded as low as $149.63 and last traded at $146.5850. Approximately 24,110 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 77,898 shares. The stock had previously closed at $156.01.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SENEA shares. Wall Street Zen cut shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Seneca Foods presently has an average rating of “Buy”.

Seneca Foods Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. The stock has a market cap of $949.14 million, a PE ratio of 10.79 and a beta of 0.03. The company’s 50 day simple moving average is $142.23 and its 200 day simple moving average is $124.17.

Seneca Foods (NASDAQ:SENEA) last released its earnings results on Thursday, February 5th. The company reported $6.48 earnings per share for the quarter. Seneca Foods had a net margin of 5.58% and a return on equity of 12.30%. The firm had revenue of $508.35 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SENEA. State of Alaska Department of Revenue bought a new position in Seneca Foods in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC bought a new position in Seneca Foods in the 2nd quarter worth approximately $36,000. CWM LLC boosted its holdings in Seneca Foods by 75.9% in the 3rd quarter. CWM LLC now owns 475 shares of the company’s stock valued at $51,000 after purchasing an additional 205 shares during the period. Quarry LP bought a new position in Seneca Foods in the 3rd quarter valued at $57,000. Finally, Employees Retirement System of Texas bought a new position in Seneca Foods in the 3rd quarter valued at $64,000. 42.51% of the stock is owned by institutional investors.

Seneca Foods Company Profile

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.