SunOpta (NASDAQ:STKL) Hits New 1-Year Low – Here’s Why

Shares of SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) hit a new 52-week low on Friday . The stock traded as low as $4.86 and last traded at $4.90, with a volume of 307174 shares trading hands. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Stephens restated an “overweight” rating and issued a $10.00 target price on shares of SunOpta in a report on Thursday, January 2nd. StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a report on Tuesday, March 11th.

SunOpta Trading Down 3.7 %

The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.53 and a current ratio of 1.20. The stock has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $6.90. The stock has a market capitalization of $580.33 million, a P/E ratio of -26.92 and a beta of 1.90.

SunOpta (NASDAQ:STKL) (TSE:SOY) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. The business had revenue of $193.91 million for the quarter, compared to analysts’ expectations of $189.90 million. On average, research analysts forecast that SunOpta Inc. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Bryan P. Clark sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $5.32, for a total transaction of $45,220.00. Following the completion of the sale, the senior vice president now owns 28,150 shares of the company’s stock, valued at $149,758. This trade represents a 23.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.48% of the company’s stock.

Institutional Trading of SunOpta

Institutional investors have recently added to or reduced their stakes in the business. Bayesian Capital Management LP raised its stake in shares of SunOpta by 15.2% in the fourth quarter. Bayesian Capital Management LP now owns 11,536 shares of the company’s stock worth $89,000 after purchasing an additional 1,523 shares during the last quarter. Ironwood Investment Management LLC raised its stake in SunOpta by 1.2% during the 4th quarter. Ironwood Investment Management LLC now owns 132,879 shares of the company’s stock valued at $1,023,000 after buying an additional 1,549 shares during the last quarter. Quadrant Capital Group LLC lifted 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 valued at $112,000 after buying an additional 1,923 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of SunOpta by 18.7% in the 4th quarter. EP Wealth Advisors LLC now owns 14,730 shares of the company’s stock worth $113,000 after buying an additional 2,316 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of SunOpta by 33.1% in the third quarter. Quantinno Capital Management LP now owns 13,522 shares of the company’s stock worth $86,000 after acquiring an additional 3,360 shares during the period. 85.39% of the stock is currently owned by hedge funds and other institutional investors.

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.