SunOpta (NASDAQ:STKL) Shares Down 6.4% – Should You Sell?

SunOpta Inc. (NASDAQ:STKL) (TSE:SOY)’s share price dropped 6.4% on Monday . The company traded as low as $5.70 and last traded at $5.72. Approximately 506,727 shares traded hands during trading, a decline of 37% from the average daily volume of 805,924 shares. The stock had previously closed at $6.11.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of SunOpta from a “sell” rating to a “hold” rating in a research note on Monday, September 30th.

SunOpta Stock Down 5.2 %

The company has a debt-to-equity ratio of 1.67, a current ratio of 1.27 and a quick ratio of 0.61. The firm’s 50-day moving average price is $6.08 and its 200 day moving average price is $5.91. The firm has a market cap of $690.97 million, a P/E ratio of -4.02 and a beta of 1.83.

SunOpta (NASDAQ:STKL) (TSE:SOY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. SunOpta had a positive return on equity of 6.51% and a negative net margin of 23.23%. The company had revenue of $171.00 million during the quarter, compared to the consensus estimate of $159.95 million. During the same period last year, the business earned ($0.03) EPS. The business’s quarterly revenue was down 17.7% on a year-over-year basis. On average, equities research analysts expect that SunOpta Inc. will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SunOpta

A number of institutional investors have recently bought and sold shares of STKL. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of SunOpta by 1.1% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,064,115 shares of the company’s stock valued at $27,346,000 after buying an additional 56,560 shares during the period. Hodges Capital Management Inc. lifted its position in shares of SunOpta by 11.2% during the second quarter. Hodges Capital Management Inc. now owns 3,198,624 shares of the company’s stock worth $17,273,000 after acquiring an additional 323,397 shares in the last quarter. Granahan Investment Management LLC grew its stake in SunOpta by 1,291.2% during the fourth quarter. Granahan Investment Management LLC now owns 2,393,790 shares of the company’s stock valued at $13,094,000 after acquiring an additional 2,221,718 shares in the last quarter. Blair William & Co. IL increased its stake in SunOpta by 77.0% in the 1st quarter. Blair William & Co. IL now owns 1,971,345 shares of the company’s stock worth $13,543,000 after acquiring an additional 857,603 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of SunOpta by 116.3% during the 2nd quarter. Marshall Wace LLP now owns 1,396,724 shares of the company’s stock valued at $7,542,000 after buying an additional 751,126 shares in the last quarter. Institutional investors and hedge funds own 85.39% of the company’s stock.

About SunOpta

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.