StockNews.com Upgrades SunOpta (NASDAQ:STKL) to “Hold”

StockNews.com upgraded shares of SunOpta (NASDAQ:STKLFree Report) (TSE:SOY) from a sell rating to a hold rating in a report released on Thursday.

SunOpta Price Performance

NASDAQ:STKL opened at $6.42 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. SunOpta has a one year low of $2.79 and a one year high of $7.59. The company has a fifty day moving average price of $6.18 and a 200 day moving average price of $5.90. The stock has a market cap of $766.16 million, a P/E ratio of -4.22 and a beta of 1.83.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Granahan Investment Management LLC raised its stake in shares of SunOpta by 1,291.2% in the 4th quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock valued at $13,094,000 after buying an additional 2,221,718 shares in the last quarter. SG Americas Securities LLC bought a new position in SunOpta during the 3rd quarter valued at about $6,394,000. Blair William & Co. IL boosted its position in SunOpta by 77.0% in the first quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock valued at $13,543,000 after buying an additional 857,603 shares in the last quarter. Marshall Wace LLP grew its stake in SunOpta by 116.3% during the second quarter. Marshall Wace LLP now owns 1,396,724 shares of the company’s stock worth $7,542,000 after buying an additional 751,126 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of SunOpta by 52.5% during the second quarter. Millennium Management LLC now owns 1,333,948 shares of the company’s stock worth $7,202,000 after buying an additional 459,053 shares in the last quarter. 85.39% of the stock is owned by institutional investors.

About SunOpta

(Get Free Report)

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.

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