Granahan Investment Management LLC Lowers Stock Position in SunOpta, Inc. $STKL

Granahan Investment Management LLC cut its stake in shares of SunOpta, Inc. (NASDAQ:STKL) (TSE:SOY) by 25.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,728,251 shares of the company’s stock after selling 917,823 shares during the period. Granahan Investment Management LLC owned approximately 2.31% of SunOpta worth $15,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STKL. State of Alaska Department of Revenue purchased a new position in shares of SunOpta during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in SunOpta by 764.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,502 shares of the company’s stock valued at $26,000 after purchasing an additional 3,981 shares during the period. BNP Paribas Financial Markets lifted its stake in SunOpta by 65.5% during the second quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $54,000 after purchasing an additional 3,669 shares in the last quarter. State of Wyoming acquired a new position in SunOpta during the third quarter worth $61,000. Finally, Bank of Montreal Can purchased a new position in shares of SunOpta during the second quarter worth $68,000. 85.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STKL. William Blair cut SunOpta from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. DA Davidson reissued a “buy” rating and set a $8.00 target price on shares of SunOpta in a research note on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of SunOpta in a report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.

SunOpta Price Performance

SunOpta stock opened at $6.44 on Monday. The stock has a market cap of $762.24 million, a P/E ratio of 33.90 and a beta of 1.04. The company has a fifty day simple moving average of $5.49 and a 200-day simple moving average of $5.14. SunOpta, Inc. has a 12-month low of $3.32 and a 12-month high of $6.94. The company has a current ratio of 1.18, a quick ratio of 0.61 and a debt-to-equity ratio of 1.27.

About SunOpta

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.