Short Interest in SunOpta Inc. (NASDAQ:STKL) Drops By 23.0%

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 5,950,000 shares, a drop of 23.0% from the March 31st total of 7,730,000 shares. Based on an average daily volume of 826,300 shares, the short-interest ratio is currently 7.2 days.

SunOpta Trading Down 1.5 %

NASDAQ STKL traded down $0.10 during trading on Tuesday, reaching $6.55. 479,843 shares of the stock traded hands, compared to its average volume of 809,579. The firm has a market cap of $775.06 million, a price-to-earnings ratio of -4.28 and a beta of 1.73. The stock’s 50-day moving average price is $6.51 and its 200 day moving average price is $5.60. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 1.48. SunOpta has a fifty-two week low of $2.79 and a fifty-two week high of $8.51.

SunOpta (NASDAQ:STKL) (TSE:SOY) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $165.10 million. SunOpta had a negative net margin of 22.85% and a positive return on equity of 4.05%. Analysts predict that SunOpta will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other SunOpta news, insider Joseph Ennen sold 150,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value of $1,033,500.00. Following the sale, the insider now directly owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SunOpta news, insider Joseph Ennen sold 150,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $6.89, for a total value of $1,033,500.00. Following the sale, the insider now directly owns 1,743,399 shares in the company, valued at approximately $12,012,019.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian W. Kocher purchased 36,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was bought at an average price of $6.75 per share, for a total transaction of $243,000.00. Following the completion of the transaction, the chief executive officer now directly owns 36,000 shares in the company, valued at $243,000. The disclosure for this purchase can be found here. Company insiders own 6.48% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in SunOpta by 67.4% in the third quarter. Signaturefd LLC now owns 7,663 shares of the company’s stock valued at $26,000 after buying an additional 3,085 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of SunOpta by 50.9% in the third quarter. PNC Financial Services Group Inc. now owns 10,189 shares of the company’s stock worth $34,000 after purchasing an additional 3,439 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of SunOpta in the third quarter worth $37,000. Regal Investment Advisors LLC bought a new stake in shares of SunOpta in the third quarter worth $42,000. Finally, NBC Securities Inc. bought a new stake in shares of SunOpta in the fourth quarter worth $65,000. Institutional investors own 85.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of SunOpta from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. DA Davidson raised their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group raised their price objective on shares of SunOpta from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SunOpta presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

SunOpta Company Profile

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.