Midera Food Processing (NASDAQ:MFP) Hits New 52-Week High – Here’s Why

Midera Food Processing (NASDAQ:MFP)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $50.50 and last traded at $49.98, with a volume of 33950 shares. The stock had previously closed at $48.95.

Analyst Upgrades and Downgrades

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

Midera Food Processing Stock Up 3.7%

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

Insider Transactions at Midera Food Processing

In other Midera Food Processing news, Director Robert A. Nerbonne bought 10,900 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were acquired at an average cost of $45.05 per share, with a total value of $491,045.00. Following the acquisition, the director directly owned 32,371 shares of the company’s stock, valued at $1,458,313.55. The trade was a 50.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

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.