Seneca Foods (NASDAQ:SENEB) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Seneca Foods Co. (NASDAQ:SENEB) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $156.62 and traded as high as $176.17. Seneca Foods shares last traded at $169.9740, with a volume of 245 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Seneca Foods in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Seneca Foods currently has a consensus rating of “Hold”.

Seneca Foods Stock Down 2.5%

The company has a fifty day simple moving average of $157.29 and a 200-day simple moving average of $139.86.

Seneca Foods (NASDAQ:SENEB) last posted its quarterly earnings results on Thursday, June 11th. The consumer goods maker reported $3.67 EPS for the quarter. The company had revenue of $393.85 million for the quarter.

Hedge Funds Weigh In On Seneca Foods

An institutional investor recently raised its stake in Seneca Foods stock. Vanguard Group Inc. grew its position in Seneca Foods Co. (NASDAQ:SENEB) by 24.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,429 shares of the consumer goods maker’s stock after buying an additional 3,617 shares during the period. Vanguard Group Inc.’s holdings in Seneca Foods were worth $2,009,000 as of its most recent SEC filing. 3.39% of the stock is owned by institutional investors.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and bottled produce; 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, READ, Green Valley, Paradise, Seneca Farms, and CherryMan. It also packs Green Giant, Le Sueur, and other brands of canned vegetables, as well as select Green Giant frozen vegetables for B&G Foods North America under a contract packing agreement.