BidaskClub cut shares of SunOpta (NASDAQ:STKL) (TSE:SOY) from a sell rating to a strong sell rating in a research note released on Thursday.
Several other research firms also recently commented on STKL. Zacks Investment Research downgraded shares of SunOpta from a hold rating to a sell rating in a report on Tuesday, August 14th. ValuEngine raised shares of SunOpta from a hold rating to a buy rating in a report on Wednesday, October 24th.
Shares of NASDAQ:STKL traded down $0.21 during midday trading on Thursday, reaching $5.24. The company had a trading volume of 840,170 shares, compared to its average volume of 554,196. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.23 and a quick ratio of 0.40. SunOpta has a 52-week low of $5.00 and a 52-week high of $9.10.
SunOpta (NASDAQ:STKL) (TSE:SOY) last released its quarterly earnings data on Wednesday, November 7th. The company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $308.37 million for the quarter, compared to the consensus estimate of $317.80 million. SunOpta had a negative net margin of 10.52% and a negative return on equity of 7.59%. On average, analysts predict that SunOpta will post -0.22 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engaged Capital LLC lifted its holdings in SunOpta by 1.5% during the second quarter. Engaged Capital LLC now owns 6,856,907 shares of the company’s stock valued at $57,598,000 after purchasing an additional 100,000 shares during the last quarter. FMR LLC lifted its holdings in SunOpta by 9.9% during the third quarter. FMR LLC now owns 3,583,533 shares of the company’s stock valued at $26,339,000 after purchasing an additional 323,483 shares during the last quarter. Ardsley Advisory Partners lifted its holdings in SunOpta by 12.3% during the second quarter. Ardsley Advisory Partners now owns 2,976,801 shares of the company’s stock valued at $25,005,000 after purchasing an additional 325,000 shares during the last quarter. Overbrook Management Corp increased its position in shares of SunOpta by 103.6% during the second quarter. Overbrook Management Corp now owns 2,238,273 shares of the company’s stock valued at $18,801,000 after buying an additional 1,138,822 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SunOpta by 3.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,723,495 shares of the company’s stock valued at $14,507,000 after buying an additional 57,148 shares during the period. 79.35% of the stock is currently owned by institutional investors and hedge funds.
SunOpta Company Profile
SunOpta Inc sources non-genetically modified (non-GMO) and organic ingredients; and manufactures food and beverage products in the United States, Canada, Europe, Mexico, and Ethiopia. The company operates through Global Ingredients and Consumer Products segments. The Global Ingredients segment offers organic fruit- and vegetable-based raw materials and ingredients, sweeteners, cocoa, coffees, ancient grains, nuts, seeds and pulses, and other organic food products; identity preserved, non-GMO, and organic seeds and grains, including soy, corn, and sunflower; and seed and grain-based animal feed, and pet food products.
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