SunOpta (NASDAQ:STKL) Trading Up 0.4% After Insider Buying Activity

Shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) were up 0.4% during mid-day trading on Monday following insider buying activity. The stock traded as high as $2.87 and last traded at $2.71, approximately 29,216 shares traded hands during mid-day trading. A decline of 96% from the average daily volume of 771,958 shares. The stock had previously closed at $2.70.

Specifically, CEO Joseph Ennen acquired 20,000 shares of SunOpta stock in a transaction dated Friday, November 8th. The stock was purchased at an average cost of $2.58 per share, for a total transaction of $51,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 339,000 shares of the company’s stock, valued at $874,620. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott E. Huckins acquired 44,000 shares of SunOpta stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $2.49 per share, with a total value of $109,560.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,000 shares of the company’s stock, valued at $109,560. The disclosure for this purchase can be found here. Insiders have bought 285,522 shares of company stock valued at $667,607 over the last quarter. Corporate insiders own 2.16% of the company’s stock.

A number of research analysts have recently issued reports on STKL shares. ValuEngine upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Citigroup set a $3.00 price target on shares of SunOpta and gave the stock a “buy” rating in a report on Monday, August 12th.

The firm has a market capitalization of $226.17 million, a PE ratio of -9.68 and a beta of 0.67. The firm’s fifty day moving average is $1.84 and its two-hundred day moving average is $2.81. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.21 and a quick ratio of 0.40.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). SunOpta had a negative net margin of 7.59% and a negative return on equity of 21.16%. The business had revenue of $295.94 million for the quarter, compared to analysts’ expectations of $299.10 million. As a group, equities research analysts predict that SunOpta, Inc. will post -0.39 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in STKL. Ardsley Advisory Partners LP boosted its holdings in SunOpta by 16.5% during the second quarter. Ardsley Advisory Partners LP now owns 8,425,138 shares of the company’s stock worth $27,719,000 after purchasing an additional 1,193,708 shares during the last quarter. River & Mercantile Asset Management LLP bought a new stake in SunOpta in the second quarter worth about $1,534,000. Renaissance Technologies LLC raised its position in SunOpta by 232.8% in the second quarter. Renaissance Technologies LLC now owns 496,500 shares of the company’s stock worth $1,633,000 after acquiring an additional 347,300 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of SunOpta in the second quarter valued at approximately $1,007,000. Finally, Wynnefield Capital Inc. bought a new stake in shares of SunOpta in the second quarter valued at approximately $905,000. Institutional investors and hedge funds own 75.21% of the company’s stock.

About SunOpta (NASDAQ:STKL)

SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, and internationally. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.

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