SunOpta Inc. (NASDAQ:STKL – Get Rating) (TSE:SOY)'s stock price dropped 6.8% on Tuesday following insider selling activity. The company traded as low as $9.54 and last traded at $9.57. Approximately 38,147 shares were traded during trading, a decline of 95% from the average daily volume of 816,836 shares. The stock had previously closed at $10.27.
Specifically, Director Rebecca Fisher sold 8,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.33, for a total value of $82,640.00. Following the sale, the director now directly owns 70,425 shares of the company's stock, valued at $727,490.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SunOpta news, insider Robert Duchscher sold 20,000 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $10.35, for a total value of $207,000.00. Following the sale, the insider now directly owns 105,439 shares of the company's stock, valued at $1,091,293.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rebecca Fisher sold 8,000 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.33, for a total value of $82,640.00. Following the completion of the sale, the director now directly owns 70,425 shares in the company, valued at $727,490.25. The disclosure for this sale can be found here. Insiders have sold 104,638 shares of company stock worth $1,091,863 over the last ninety days. 4.68% of the stock is owned by insiders.
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Analyst Upgrades and Downgrades
A number of brokerages have recently commented on STKL. Craig Hallum raised their price target on SunOpta to $18.00 in a report on Monday, August 15th. Canaccord Genuity Group raised their price target on SunOpta from $12.00 to $14.00 in a report on Friday, August 12th. Cowen raised their price target on SunOpta to $15.00 in a report on Monday, August 15th. Finally, StockNews.com lowered SunOpta from a "hold" rating to a "sell" rating in a report on Tuesday.
SunOpta Price Performance
The company has a 50 day moving average of $9.64 and a two-hundred day moving average of $7.57. The firm has a market cap of $1.05 billion, a P/E ratio of -481.00 and a beta of 1.50. The company has a quick ratio of 0.70, a current ratio of 2.18 and a debt-to-equity ratio of 0.87.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of STKL. Driehaus Capital Management LLC bought a new position in SunOpta during the second quarter valued at about $14,936,000. Kennedy Capital Management Inc. boosted its stake in SunOpta by 235.9% during the fourth quarter. Kennedy Capital Management Inc. now owns 2,660,691 shares of the company's stock valued at $18,492,000 after buying an additional 1,868,637 shares in the last quarter. Royal Bank of Canada boosted its stake in SunOpta by 5,847.3% during the first quarter. Royal Bank of Canada now owns 1,365,254 shares of the company's stock valued at $6,853,000 after buying an additional 1,342,298 shares in the last quarter. Woodline Partners LP boosted its stake in SunOpta by 106.9% during the second quarter. Woodline Partners LP now owns 2,483,082 shares of the company's stock valued at $19,318,000 after buying an additional 1,283,001 shares in the last quarter. Finally, State Street Corp boosted its stake in SunOpta by 3,256.3% during the second quarter. State Street Corp now owns 1,240,051 shares of the company's stock valued at $9,648,000 after buying an additional 1,203,104 shares in the last quarter. Institutional investors own 79.57% of the company's stock.
About SunOpta
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SunOpta Inc manufactures and sells plant-based and fruit-based food and beverage products to retail customers, foodservice distributors, branded food companies, and food manufacturers worldwide. The company operates through two segments, Plant-Based Foods and Beverages, and Fruit-Based Foods and Beverages.
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