Seneca Foods (NASDAQ:SENEA) Sees Strong Trading Volume – Here’s Why

Seneca Foods Corp. (NASDAQ:SENEA) saw an uptick in trading volume on Friday . 126,272 shares were traded during trading, an increase of 30% from the previous session’s volume of 96,939 shares.The stock last traded at $162.2810 and had previously closed at $149.21.

Analyst Ratings Changes

A number of brokerages recently weighed in on SENEA. Wall Street Zen cut shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Seneca Foods in a report on Friday, April 24th. Finally, Freedom Capital raised shares of Seneca Foods to a “strong-buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Seneca Foods currently has an average rating of “Strong Buy”.

Seneca Foods Trading Up 14.3%

The company’s 50-day moving average price is $144.91 and its 200-day moving average price is $131.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.72 and a current ratio of 4.34. The firm has a market capitalization of $1.15 billion, a PE ratio of 13.31 and a beta of -0.03.

Institutional Investors Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently bought and sold shares of SENEA. EverSource Wealth Advisors LLC acquired a new position in Seneca Foods in the second quarter valued at $36,000. Public Employees Retirement System of Ohio acquired a new position in Seneca Foods in the first quarter valued at $54,000. Royal Bank of Canada increased its stake in Seneca Foods by 22.6% in the first quarter. Royal Bank of Canada now owns 429 shares of the company’s stock valued at $65,000 after purchasing an additional 79 shares during the period. Quarry LP acquired a new position in Seneca Foods in the third quarter valued at $57,000. Finally, Employees Retirement System of Texas acquired a new position in Seneca Foods in the third quarter valued at $64,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.

Seneca Foods Company Profile

Seneca Foods Corporation is a leading producer and distributor of shelf-stable fruits, vegetables and fruit‐based products. The company’s core activities include the processing, packaging and sale of canned fruits and vegetables, natural fruit juices, apple sauces and fruit‐based snacks. Seneca Foods caters to both retail and foodservice markets, supplying national and international grocers, restaurant chains and food manufacturers with branded and private‐label products.

Seneca Foods operates a network of manufacturing facilities and cold storage warehouses across North America, with key processing plants in New York, Michigan, California and Canada.