Midera Food Processing (NASDAQ:MFP) Shares Gap Up – What’s Next?

Midera Food Processing (NASDAQ:MFP)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $42.43, but opened at $45.47. Midera Food Processing shares last traded at $46.0420, with a volume of 56,300 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MFP. Oppenheimer started coverage on shares of Midera Food Processing in a research report on Wednesday, July 15th. They set an “outperform” rating and a $50.00 price target on the stock. William Blair began coverage on shares of Midera Food Processing in a research report on Tuesday, October 20th. They issued an “outperform” rating on the stock. Zacks Research raised shares of Midera Food Processing to a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Midera Food Processing to a “hold” rating in a report on Saturday, August 1st. Finally, KeyCorp initiated coverage on Midera Food Processing in a research note on Tuesday, August 25th. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.00.

Midera Food Processing Stock Performance

The company has a current ratio of 1.84, a quick ratio of 1.15 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $42.26.

Insiders Place Their Bets

In other Midera Food Processing news, Director Robert Nerbonne bought 10,900 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average cost of $45.05 per share, with a total value of $491,045.00. Following the purchase, the director directly owned 32,371 shares in the company, valued at approximately $1,458,313.55. This represents a 50.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Midera Food Processing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MFP. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Midera Food Processing during the third quarter worth $27,924,000. Cooke & Bieler LP purchased a new position in Midera Food Processing in the third quarter valued at $19,643,000. Kirr Marbach & Co. LLC IN acquired a new position in Midera Food Processing during the 3rd quarter worth $10,743,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Midera Food Processing during the 3rd quarter worth $2,613,000. Finally, Maryland State Retirement & Pension System acquired a new position in Midera Food Processing during the 3rd quarter worth $539,000.

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.