Midera Food Processing (NASDAQ:MFP) Shares Up 5.9% After Insider Buying Activity

Shares of Midera Food Processing (NASDAQ:MFP) traded up 5.9% during mid-day trading on Thursday following insider buying activity. The company traded as high as $48.74 and last traded at $48.42. Approximately 913,754 shares were traded during mid-day trading, a decline of 18% from the average session volume of 1,118,335 shares. The stock had previously closed at $45.71.

Specifically, Director Robert A. Nerbonne purchased 10,900 shares of Midera Food Processing stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $45.05 per share, for a total transaction of $491,045.00. Following the transaction, the director directly owned 32,371 shares in the company, valued at approximately $1,458,313.55. This trade represents a 50.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MFP shares. Robert W. Baird began coverage on Midera Food Processing in a report on Wednesday, July 8th. They issued a “neutral” rating and a $40.00 price objective on the stock. Wall Street Zen raised Midera Food Processing to a “hold” rating in a report on Saturday, August 1st. Oppenheimer started coverage on Midera Food Processing in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Zacks Research raised Midera Food Processing to a “hold” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.00.

Midera Food Processing Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.84.

About Midera Food Processing

Midera Food Processing Inc provides food processing solutions. The Company specializes in the processing of raw material preparation and production and product packaging for retail and food service applications. Midera Food Processing Inc, formerly known as MINERA FOOD PRC, is based in Rosemont, Illinois.