Seneca Foods (NASDAQ:SENEA) Sees Unusually-High Trading Volume – What’s Next?

Seneca Foods Corp. (NASDAQ:SENEA) saw unusually-high trading volume on Tuesday . Approximately 180,815 shares changed hands during trading, an increase of 111% from the previous session’s volume of 85,742 shares.The stock last traded at $140.48 and had previously closed at $139.04.

Wall Street Analyst Weigh In

SENEA has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Seneca Foods in a research note on Friday, April 24th. Freedom Capital raised shares of Seneca Foods to a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen downgraded shares of Seneca Foods from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, Seneca Foods currently has an average rating of “Strong Buy”.

Seneca Foods Trading Up 3.9%

The company has a debt-to-equity ratio of 0.37, a current ratio of 4.34 and a quick ratio of 0.72. The firm’s 50 day moving average is $145.25 and its 200 day moving average is $128.90. The company has a market capitalization of $977.72 million, a PE ratio of 11.11 and a beta of -0.03.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SENEA. State of Alaska Department of Revenue bought a new stake in Seneca Foods in the third quarter valued at $28,000. EverSource Wealth Advisors LLC bought a new stake in Seneca Foods in the second quarter valued at $36,000. Public Employees Retirement System of Ohio bought a new stake in Seneca Foods in the first quarter valued at $54,000. Quarry LP bought a new stake in Seneca Foods in the third quarter valued at $57,000. Finally, Employees Retirement System of Texas bought a new stake in Seneca Foods in the third quarter valued at $64,000. 42.51% of the stock is owned by hedge funds and other institutional investors.

About Seneca Foods

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.