Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume – Here’s Why

Seneca Foods Corp. (NASDAQ:SENEA) shares saw strong trading volume on Friday . 126,272 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 96,939 shares.The stock last traded at $162.2810 and had previously closed at $149.21.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a research note on Friday, April 24th. Wall Street Zen lowered shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 4th. Finally, Freedom Capital upgraded shares of Seneca Foods to a “strong-buy” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Seneca Foods Trading Up 14.3%

The firm has a market cap of $1.15 billion, a PE ratio of 13.31 and a beta of -0.03. The company’s fifty day moving average price is $144.91 and its two-hundred day moving average price is $131.52. The company has a quick ratio of 0.72, a current ratio of 4.34 and a debt-to-equity ratio of 0.37.

Institutional Trading of Seneca Foods

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Seneca Foods by 22.6% during the first quarter. Royal Bank of Canada now owns 429 shares of the company’s stock worth $65,000 after buying an additional 79 shares in the last quarter. Empowered Funds LLC boosted its holdings in Seneca Foods by 8.1% during the first quarter. Empowered Funds LLC now owns 31,394 shares of the company’s stock worth $4,744,000 after buying an additional 2,354 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Seneca Foods by 160.8% during the first quarter. Quantinno Capital Management LP now owns 9,287 shares of the company’s stock worth $1,403,000 after buying an additional 5,726 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Seneca Foods by 30.9% during the first quarter. Lazard Asset Management LLC now owns 57,470 shares of the company’s stock worth $8,685,000 after buying an additional 13,564 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Seneca Foods during the first quarter worth about $212,000. Hedge funds and other institutional investors own 42.51% of the company’s stock.

Seneca Foods Company Profile

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.