SunOpta Inc. (NASDAQ:STKL) Short Interest Down 23.0% in April

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

SunOpta Stock Performance

Shares of STKL stock traded down $0.04 during trading hours on Monday, reaching $6.65. The company had a trading volume of 559,828 shares, compared to its average volume of 813,544. The firm has a market cap of $786.89 million, a PE ratio of -4.34 and a beta of 1.73. The business has a fifty day moving average price of $6.48 and a 200-day moving average price of $5.56. SunOpta has a one year low of $2.79 and a one year high of $8.51. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.65 and a current ratio of 1.19.

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

Insider Buying and Selling at SunOpta

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

Hedge Funds Weigh In On SunOpta

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in SunOpta by 67.4% during 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 during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of SunOpta by 50.9% in the 3rd 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 position in SunOpta in the 3rd quarter worth $37,000. Regal Investment Advisors LLC purchased a new position in SunOpta during the third quarter valued at $42,000. Finally, NBC Securities Inc. bought a new stake in SunOpta during the fourth quarter valued at about $65,000. Institutional investors own 85.39% of the company’s stock.

Wall Street Analyst Weigh In

STKL has been the topic of a number of recent research reports. BMO Capital Markets increased their target price on SunOpta from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. DA Davidson increased their price target on shares of SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group upped their price objective on SunOpta from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.