Seneca Foods (NASDAQ:SENEB) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Seneca Foods Co. (NASDAQ:SENEB) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $156.62 and traded as high as $176.17. Seneca Foods shares last traded at $169.9740, with a volume of 245 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Seneca Foods in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Seneca Foods Trading Down 3.5%

The company’s 50-day moving average price is $156.62 and its two-hundred day moving average price is $139.64.

Seneca Foods (NASDAQ:SENEB) last announced its earnings results on Thursday, June 11th. The consumer goods maker reported $3.67 earnings per share (EPS) for the quarter. The company had revenue of $393.85 million during the quarter.

Hedge Funds Weigh In On Seneca Foods

An institutional investor recently raised its position in Seneca Foods stock. Vanguard Group Inc. increased its position in Seneca Foods Co. (NASDAQ:SENEB) by 24.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,429 shares of the consumer goods maker’s stock after buying an additional 3,617 shares during the quarter. Vanguard Group Inc.’s holdings in Seneca Foods were worth $2,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 3.39% of the stock is currently owned by institutional investors and hedge funds.

About Seneca Foods

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. The company offers canned, frozen, and bottled produce; 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, READ, Green Valley, Paradise, Seneca Farms, and CherryMan. It also packs Green Giant, Le Sueur, and other brands of canned vegetables, as well as select Green Giant frozen vegetables for B&G Foods North America under a contract packing agreement.