SunOpta Inc. (NASDAQ:STKL) Sees Large Drop in Short Interest

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 696,100 shares, a decrease of 57.8% from the December 15th total of 1,650,000 shares. Based on an average daily volume of 880,000 shares, the short-interest ratio is presently 0.8 days.

Several brokerages have recently weighed in on STKL. Zacks Investment Research lowered shares of SunOpta from a “strong-buy” rating to a “hold” rating in a report on Tuesday. dropped their price objective on shares of SunOpta from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, November 11th. Finally, TheStreet lowered shares of SunOpta from a “c” rating to a “d+” rating in a report on Wednesday, November 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $15.92.

STKL opened at $5.88 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 0.82. SunOpta has a fifty-two week low of $5.77 and a fifty-two week high of $17.07. The firm has a market capitalization of $638.01 million, a PE ratio of 8.17 and a beta of 1.87. The company’s 50-day moving average is $6.57 and its 200 day moving average is $8.61.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its earnings results on Wednesday, November 10th. The company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. SunOpta had a net margin of 8.70% and a return on equity of 1.70%. The company had revenue of $198.48 million for the quarter, compared to analyst estimates of $206.76 million. During the same quarter in the prior year, the business posted ($0.01) EPS. As a group, analysts expect that SunOpta will post 0.05 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of SunOpta by 22.0% in the 3rd quarter. BlackRock Inc. now owns 9,222 shares of the company’s stock worth $82,000 after acquiring an additional 1,663 shares during the last quarter. Trexquant Investment LP grew its position in SunOpta by 14.7% in the 3rd quarter. Trexquant Investment LP now owns 13,884 shares of the company’s stock worth $124,000 after purchasing an additional 1,783 shares in the last quarter. Mackenzie Financial Corp grew its position in SunOpta by 10.6% in the 2nd quarter. Mackenzie Financial Corp now owns 22,107 shares of the company’s stock worth $270,000 after purchasing an additional 2,118 shares in the last quarter. Raymond James & Associates grew its position in SunOpta by 22.0% in the 3rd quarter. Raymond James & Associates now owns 12,741 shares of the company’s stock worth $114,000 after purchasing an additional 2,299 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in SunOpta by 31.2% in the 2nd quarter. Toronto Dominion Bank now owns 10,028 shares of the company’s stock worth $123,000 after purchasing an additional 2,385 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

SunOpta Company Profile

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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