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SunOpta (NASDAQ:STKL) Stock Price Down 6.8% Following Insider Selling – MarketBeat

Written by Amanda

SunOpta (NASDAQ:STKL) Stock Price Down 6.8% Following Insider Selling  MarketBeat

SunOpta Inc. (NASDAQ:STKLGet Rating) (TSE:SOY) dropped 6.8% on Tuesday following insider selling activity. The company traded as low as $9.54 and last traded at $9.57. Approximately 38,147 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 816,836 shares. The stock had previously closed at $10.27.Specifically, Director Rebecca Fisher sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $10.12, for a total value of $101,200.00. Following the sale, the director now owns 60,425 shares of the company’s stock, valued at $611,501. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Rebecca Fisher sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $10.12, for a total value of $101,200.00. Following the completion of the transaction, the director now owns 60,425 shares of the company’s stock, valued at $611,501. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Barend Reijn sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $10.41, for a total transaction of $312,300.00. Following the sale, the senior vice president now owns 34,068 shares in the company, valued at approximately $354,647.88. The disclosure for this sale can be found here. Insiders sold 104,638 shares of company stock valued at $1,091,863 in the last 90 days. 4.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com raised shares of SunOpta from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Craig Hallum increased their price target on SunOpta to $18.00 in a research report on Monday, August 15th. Canaccord Genuity Group upped their price objective on SunOpta from $12.00 to $14.00 in a research note on Friday, August 12th. Finally, Cowen upped their target price on shares of SunOpta to $15.00 in a research report on Monday, August 15th.

SunOpta Price Performance

The stock has a fifty day moving average price of $9.62 and a 200-day moving average price of $7.55. The company has a market cap of $1.04 billion, a PE ratio of -479.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.18 and a quick ratio of 0.70.

Institutional Investors Weigh In On SunOpta

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of SunOpta by 81.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,200 shares of the company’s stock valued at $26,000 after purchasing an additional 2,338 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in SunOpta during the second quarter valued at approximately $29,000. Focused Wealth Management Inc raised its position in shares of SunOpta by 496.5% in the second quarter. Focused Wealth Management Inc now owns 5,590 shares of the company’s stock valued at $43,000 after purchasing an additional 7,000 shares during the period. Private Advisor Group LLC acquired a new stake in shares of SunOpta in the first quarter worth $60,000. Finally, Van ECK Associates Corp acquired a new position in SunOpta in the 2nd quarter valued at $67,000. 79.57% of the stock is owned by hedge funds and other institutional investors.

About SunOpta

(Get Rating)

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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About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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