Seneca Foods (NASDAQ:SENEA) Sees Large Volume Increase – Here’s Why

Seneca Foods Corp. (NASDAQ:SENEA) shares saw unusually-strong trading volume on Thursday . Approximately 134,925 shares traded hands during trading, an increase of 186% from the previous session’s volume of 47,175 shares.The stock last traded at $103.7750 and had previously closed at $101.18.

Analyst Upgrades and Downgrades

Several analysts recently commented on SENEA shares. Wall Street Zen lowered Seneca Foods from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings lowered Seneca Foods from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Seneca Foods presently has a consensus rating of “Hold”.

Seneca Foods Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 4.11 and a quick ratio of 0.66. The firm has a fifty day simple moving average of $110.89 and a 200 day simple moving average of $101.99. The company has a market capitalization of $697.11 million, a price-to-earnings ratio of 16.30 and a beta of 0.19.

Seneca Foods (NASDAQ:SENEA) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.86 EPS for the quarter. Seneca Foods had a return on equity of 10.07% and a net margin of 2.76%.The company had revenue of $297.46 million for the quarter.

Hedge Funds Weigh In On Seneca Foods

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new stake in shares of Seneca Foods in the 1st quarter worth $206,000. Kennondale Capital Management LLC purchased a new stake in shares of Seneca Foods in the first quarter valued at about $598,000. Shufro Rose & Co. LLC increased its position in Seneca Foods by 259.1% during the first quarter. Shufro Rose & Co. LLC now owns 34,650 shares of the company’s stock worth $3,085,000 after purchasing an additional 25,000 shares during the last quarter. Vanguard Group Inc. raised its stake in Seneca Foods by 2.1% during the first quarter. Vanguard Group Inc. now owns 307,325 shares of the company’s stock worth $27,364,000 after purchasing an additional 6,208 shares during the period. Finally, Invesco Ltd. raised its stake in Seneca Foods by 80.0% during the first quarter. Invesco Ltd. now owns 52,492 shares of the company’s stock worth $4,674,000 after purchasing an additional 23,329 shares during the period. Hedge funds and other 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.