Seneca Foods (NASDAQ:SENEA) Shares Gap Down – Here’s Why

Seneca Foods Co. (NASDAQ:SENEA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $73.40, but opened at $71.51. Seneca Foods shares last traded at $72.66, with a volume of 2,456 shares changing hands.

Seneca Foods Stock Performance

The firm has a fifty day moving average of $74.46 and a 200-day moving average of $66.07. The firm has a market cap of $505.04 million, a P/E ratio of 12.57 and a beta of 0.27. The company has a quick ratio of 0.33, a current ratio of 2.64 and a debt-to-equity ratio of 0.73.

Seneca Foods (NASDAQ:SENEA) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.52 earnings per share (EPS) for the quarter. Seneca Foods had a return on equity of 10.43% and a net margin of 2.79%. The business had revenue of $425.47 million for the quarter.

Hedge Funds Weigh In On Seneca Foods

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC raised its position in Seneca Foods by 199.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 13,421 shares of the company’s stock valued at $837,000 after buying an additional 8,938 shares during the last quarter. Barclays PLC boosted its stake in Seneca Foods by 311.3% in the 3rd quarter. Barclays PLC now owns 7,222 shares of the company’s stock valued at $450,000 after purchasing an additional 5,466 shares during the period. Jane Street Group LLC boosted its stake in Seneca Foods by 156.7% in the 3rd quarter. Jane Street Group LLC now owns 16,034 shares of the company’s stock valued at $999,000 after purchasing an additional 9,787 shares during the period. AQR Capital Management LLC lifted its position in shares of Seneca Foods by 39.3% during the 2nd quarter. AQR Capital Management LLC now owns 14,094 shares of the company’s stock valued at $809,000 after acquiring an additional 3,973 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Seneca Foods during the 3rd quarter valued at $380,000. Institutional investors own 42.51% of the company’s stock.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and jarred produce; jarred fruit; and snack chips and other food products under the private label, as well as under various national and regional brands that the company owns or licenses, including Seneca, Libby’s, Aunt Nellie’s, Cherryman, Green Valley, and READ.