SunOpta (NASDAQ:STKL) Shares Cross Above 200 Day Moving Average – What’s Next?

SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.18 and traded as high as $6.51. SunOpta shares last traded at $6.50, with a volume of 1,263,586 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STKL. DA Davidson reissued a “buy” rating and issued a $8.00 price objective on shares of SunOpta in a research note on Monday, February 9th. William Blair cut SunOpta from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of SunOpta in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

SunOpta Price Performance

The firm’s 50-day moving average price is $6.46 and its two-hundred day moving average price is $5.19. The stock has a market cap of $781.90 million, a PE ratio of 49.77 and a beta of 1.03. The company has a current ratio of 1.18, a quick ratio of 0.61 and a debt-to-equity ratio of 1.27.

Institutional Trading of SunOpta

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in SunOpta by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,586 shares of the company’s stock valued at $206,000 after acquiring an additional 1,926 shares in the last quarter. Van ECK Associates Corp boosted its position in SunOpta by 8.6% during the 4th quarter. Van ECK Associates Corp now owns 24,438 shares of the company’s stock valued at $93,000 after acquiring an additional 1,942 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SunOpta by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,001 shares of the company’s stock valued at $272,000 after acquiring an additional 2,424 shares in the last quarter. R Squared Ltd boosted its position in SunOpta by 20.3% during the 4th quarter. R Squared Ltd now owns 15,874 shares of the company’s stock valued at $60,000 after acquiring an additional 2,682 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in SunOpta by 4.7% during the 4th quarter. Deutsche Bank AG now owns 76,178 shares of the company’s stock valued at $289,000 after acquiring an additional 3,449 shares in the last quarter. Institutional investors own 85.39% of the company’s stock.

SunOpta Company Profile

SunOpta Inc (NASDAQ: STKL) is a Canada-based company specializing in the sourcing, processing and packaging of organic and non-GMO plant-based foods and beverages. The company’s product portfolio spans a wide range of offerings, including non-dairy beverages such as oat, almond, soy and coconut drinks, fruit and plant-based beverages, and ingredient solutions for food manufacturers and foodservice customers. SunOpta’s integrated supply chain extends from ingredient sourcing and raw material preparation through to finished product formulation and packaging.

SunOpta operates through two primary business segments: Global Beverages and Global Ingredients.