Seneca Foods (NASDAQ:SENEA) Shares Down 5% – Time to Sell?

Seneca Foods Corp. (NASDAQ:SENEA) dropped 5% on Wednesday . The company traded as low as $117.50 and last traded at $121.4450. Approximately 24,357 shares were traded during trading, a decline of 53% from the average daily volume of 51,360 shares. The stock had previously closed at $127.82.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Seneca Foods from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Seneca Foods Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 4.11 and a quick ratio of 0.66. The company has a market cap of $811.13 million, a PE ratio of 19.02 and a beta of 0.19. The business has a fifty day simple moving average of $113.06 and a two-hundred day simple moving average of $105.10.

Hedge Funds Weigh In On Seneca Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Seneca Foods during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC bought a new position in shares of Seneca Foods during the 2nd quarter worth approximately $36,000. New York State Teachers Retirement System bought a new position in shares of Seneca Foods during the 2nd quarter worth approximately $43,000. CWM LLC lifted its position in Seneca Foods by 75.9% during the third quarter. CWM LLC now owns 475 shares of the company’s stock valued at $51,000 after acquiring an additional 205 shares during the last quarter. Finally, Quarry LP acquired a new stake in Seneca Foods in the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby’s, Aunt Nellie’s, Cherryman, Green Valley, and READ.