Midera Food Processing (NASDAQ:MFP) Trading Up 5.9% Following Insider Buying Activity

Midera Food Processing (NASDAQ:MFP) shares traded up 5.9% on Thursday following insider buying activity. The stock traded as high as $48.74 and last traded at $48.42. Approximately 913,754 shares changed hands during trading, a decline of 18% from the average daily 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 dated Monday, August 17th. The stock was purchased at an average cost of $45.05 per share, with a total value of $491,045.00. Following the transaction, the director owned 32,371 shares in the company, valued at approximately $1,458,313.55. The trade was a 50.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

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

Midera Food Processing Stock Performance

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

Midera Food Processing Company Profile

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.