SunOpta (NASDAQ:STKL) Shares Gap Up – Time to Buy?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) gapped up before the market opened on Wednesday . The stock had previously closed at $6.05, but opened at $6.19. SunOpta shares last traded at $6.31, with a volume of 364,005 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Monday, September 30th.

SunOpta Stock Performance

The firm’s fifty day moving average is $6.11 and its 200-day moving average is $5.90. The company has a current ratio of 1.27, a quick ratio of 0.61 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $738.71 million, a PE ratio of -4.07 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $171.00 million for the quarter, compared to the consensus estimate of $159.95 million. SunOpta had a negative net margin of 23.23% and a positive return on equity of 6.51%. The business’s revenue was down 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. As a group, research analysts anticipate that SunOpta Inc. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in SunOpta during the 2nd quarter worth about $42,000. Ballentine Partners LLC purchased a new stake in SunOpta during the second quarter worth about $60,000. MQS Management LLC acquired a new stake in shares of SunOpta during the second quarter worth about $63,000. Tealwood Asset Management Inc. purchased a new position in shares of SunOpta in the third quarter valued at approximately $80,000. Finally, Principal Financial Group Inc. grew its holdings in shares of SunOpta by 18.2% in the first quarter. Principal Financial Group Inc. now owns 12,425 shares of the company’s stock valued at $85,000 after purchasing an additional 1,917 shares in the last quarter. 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.