SunOpta (NASDAQ:STKL) Shares Gap Down – Time to Sell?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $7.39, but opened at $7.00. SunOpta shares last traded at $6.01, with a volume of 346,024 shares traded.

Analysts Set New Price Targets

STKL has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and set a $10.00 price objective on shares of SunOpta in a research report on Thursday, January 2nd. StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.

SunOpta Stock Performance

The company has a quick ratio of 0.53, a current ratio of 1.20 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $750.76 million, a P/E ratio of -34.83 and a beta of 1.79. The business has a fifty day moving average price of $7.40 and a 200-day moving average price of $6.97.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, February 26th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. SunOpta had a negative net margin of 2.74% and a positive return on equity of 7.92%. The business had revenue of $193.91 million for the quarter, compared to analysts’ expectations of $189.90 million. On average, sell-side analysts expect that SunOpta Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On SunOpta

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of SunOpta by 250.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,869 shares of the company’s stock valued at $4,848,000 after purchasing an additional 542,832 shares during the period. Harbor Capital Advisors Inc. raised its position in SunOpta by 127.6% in the third quarter. Harbor Capital Advisors Inc. now owns 1,063,918 shares of the company’s stock worth $6,788,000 after acquiring an additional 596,403 shares during the period. PDT Partners LLC bought a new stake in shares of SunOpta during the 3rd quarter valued at $726,000. State Street Corp raised its holdings in SunOpta by 18.9% in the 3rd quarter. State Street Corp now owns 1,827,273 shares of the company’s stock worth $11,658,000 after purchasing an additional 290,372 shares during the period. Finally, Barclays PLC grew its holdings in SunOpta by 103.3% during the third quarter. Barclays PLC now owns 178,954 shares of the company’s stock valued at $1,142,000 after purchasing an additional 90,937 shares during the period. Hedge funds and other institutional investors own 85.39% of the company’s stock.

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.