SunOpta (NASDAQ:STKL) Shares Cross Above 200 Day Moving Average - Here's Why

SunOpta Inc. (NASDAQ:STKL - Get Free Report) TSE: SOY shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.83 and traded as high as $7.40. SunOpta shares last traded at $7.36, with a volume of 363,311 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of SunOpta from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Stephens restated an "overweight" rating and set a $10.00 target price on shares of SunOpta in a research note on Thursday, January 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

SunOpta Stock Performance

The firm has a market cap of $914.13 million, a PE ratio of -42.44 and a beta of 1.79. The company has a current ratio of 1.20, a quick ratio of 0.53 and a debt-to-equity ratio of 1.61. The firm's 50 day simple moving average is $7.54 and its 200 day simple moving average is $6.87.

Insiders Place Their Bets

In other news, Director Rebecca Fisher sold 13,142 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $7.58, for a total value of $99,616.36. Following the sale, the director now directly owns 108,500 shares in the company, valued at $822,430. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.48% of the company's stock.

Institutional Trading of SunOpta

A number of large investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of SunOpta by 3.7% in the 4th quarter. Northern Trust Corp now owns 785,201 shares of the company's stock worth $6,046,000 after buying an additional 28,268 shares during the last quarter. Quarry LP bought a new stake in shares of SunOpta in the 4th quarter worth about $36,000. Price T Rowe Associates Inc. MD increased its holdings in shares of SunOpta by 25.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,881 shares of the company's stock worth $292,000 after buying an additional 7,790 shares during the last quarter. Stifel Financial Corp bought a new stake in shares of SunOpta in the 4th quarter worth about $326,000. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of SunOpta by 371.7% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 19,052 shares of the company's stock worth $144,000 after buying an additional 15,013 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors.

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.