Midera Food Processing (NASDAQ:MFP) Shares Up 4.4% – Here’s Why

Midera Food Processing (NASDAQ:MFP)’s stock price rose 4.4% during trading on Wednesday . The stock traded as high as $45.71 and last traded at $45.5160. Approximately 17,400 shares were traded during mid-day trading, a decline of 98% from the average session volume of 901,603 shares. The stock had previously closed at $43.58.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MFP shares. Oppenheimer began coverage on Midera Food Processing in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $50.00 price objective on the stock. KeyCorp started coverage on Midera Food Processing in a research report on Tuesday, August 25th. They set a “sector weight” rating on the stock. Zacks Research upgraded Midera Food Processing to a “hold” rating in a report on Thursday, July 16th. Robert W. Baird began coverage on Midera Food Processing in a research note on Wednesday, July 8th. They issued a “neutral” rating and a $40.00 target price on the stock. Finally, Wall Street Zen upgraded Midera Food Processing to a “hold” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.00.

Midera Food Processing Stock Up 1.6%

The company has a quick ratio of 1.15, a current ratio of 1.84 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average is $45.41.

Insider Activity

In other news, Director Robert Nerbonne acquired 10,900 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average cost of $45.05 per share, for a total transaction of $491,045.00. Following the completion of 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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.