Saturday, June 25, 2022

A company insider recently sold 437,489 shares of SunOpta Inc. [STKL]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SunOpta Inc. shares valued at $3,167,070 were sold by Engaged Capital LLC on Jun 15. At $7.24 per share, Engaged Capital LLC sold 437,489 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Engaged Capital LLC sold 602,837 shares, netting a total of over 4,227,937 in proceeds. Following the sale of shares at $7.01 each, the insider now holds 437,489 shares.

Before that, Whitehair Chris had added 6,600 shares to its account. In a trade valued at $49,165, the SVP Supply Chain bought SunOpta Inc. shares for $7.45 each. Upon closing the transaction, the insider’s holdings increased to 6,600 shares, worth approximately $1.08 million.

As published in their initiating research note from Cowen on September 10, 2021, SunOpta Inc. [STKL] has been an Outperform and the price target has been revised to $15. This represents a 51.47% premium over Wednesday’s closing price. Analysts at BMO Capital Markets started covering the stock with ‘”an Outperform”‘ outlook in a report released in early July. As of April 13, 2021, Canaccord Genuity has initiated its “Buy” rating for STKL. Earlier on December 10, 2020, Craig Hallum initiated its rating. Their recommendation was “a Buy” for STKL stock.

Analyzing STKL’s Price Performance

On Wednesday, SunOpta Inc. [NASDAQ: STKL] plunged -0.68% to $7.28. The stock’s lowest price that day was $7.16, but it reached a high of $7.51 in the same session. During the last five days, there has been a surge of approximately 4.00%. Over the course of the year, SunOpta Inc. shares have jumped approximately 4.75%. Shares of the company reached a 52-week high of $8.39 on 05/31/22 and a 52-week low of $4.22 on 02/24/22. A 50-day SMA is recorded $6.58, while a 200-day SMA reached $6.58. Nevertheless, trading volume fell to 1.15 million shares from 66174.0 shares the previous day.

Support And Resistance Levels for SunOpta Inc. (STKL)

According to the 24-hour chart, there is a support level at 7.12, which, if violated, would cause prices to drop to 6.97. In the upper region, resistance lies at 7.47. The next price resistance is at 7.67. RSI (Relative Strength Index) is 52.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 66.91%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of SunOpta Inc. (STKL)?

According to Oaktree Capital Management LP filings, the company currently owns 20,726,126 shares, which is about 19.29% of the total STKL shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 20726126.0 shares. With the completion of the buy, Engaged Capital LLC’s stake is now worth $93,958,430. Nomura Securities Co., Ltd. reduced a -0.32% interest valued at $43.69 million while Ardsley Advisory Partners LP purchased a 1,238,900 stake. A total of -66,763 shares of SunOpta Inc. were bought by Barrow, Hanley, Mewhinney & Strau during the quarter, and -96,082 were sold by Kennedy Capital Management, Inc. In its current portfolio, Omega Advisors, Inc. holds 2,000,000 shares valued at $15.56 million.

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