Seneca Foods (NASDAQ:SENEA) Sees Unusually-High Trading Volume – Here’s Why

Shares of Seneca Foods Corp. (NASDAQ:SENEA) saw strong trading volume on Tuesday . 74,167 shares were traded during trading, an increase of 158% from the previous session’s volume of 28,794 shares.The stock last traded at $94.79 and had previously closed at $92.67.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Seneca Foods from a “buy” rating to a “hold” rating in a report on Tuesday, April 29th.

Seneca Foods Price Performance

The business’s 50 day moving average is $89.89 and its two-hundred day moving average is $83.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.71 and a current ratio of 3.52. The firm has a market capitalization of $657.44 million, a PE ratio of 16.20 and a beta of 0.41.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings data on Thursday, June 12th. The company reported $1.37 earnings per share (EPS) for the quarter. Seneca Foods had a return on equity of 11.03% and a net margin of 2.61%. The company had revenue of $345.84 million for the quarter.

Hedge Funds Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Seneca Foods in the 4th quarter worth approximately $54,000. Van ECK Associates Corp increased its position in Seneca Foods by 73.6% during the fourth quarter. Van ECK Associates Corp now owns 729 shares of the company’s stock valued at $58,000 after acquiring an additional 309 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Seneca Foods by 179.2% during the 1st quarter. Russell Investments Group Ltd. now owns 726 shares of the company’s stock valued at $65,000 after acquiring an additional 466 shares during the period. HFM Investment Advisors LLC bought a new stake in Seneca Foods during the 1st quarter worth approximately $71,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Seneca Foods during the fourth quarter valued at about $87,000. 42.51% of the stock is owned by institutional investors.

Seneca Foods Company Profile

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby’s, Aunt Nellie’s, Cherryman, Green Valley, and READ.