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

Seneca Foods Corp. (NASDAQ:SENEA) shares saw unusually-strong trading volume on Wednesday . Approximately 43,262 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 38,345 shares.The stock last traded at $119.37 and had previously closed at $121.63.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SENEA shares. Wall Street Zen lowered Seneca Foods from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings restated a “buy (b)” rating on shares of Seneca Foods in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Seneca Foods has a consensus rating of “Buy”.

Seneca Foods Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 2.59 and a quick ratio of 0.42. The company has a market cap of $816.01 million, a PE ratio of 13.84 and a beta of 0.11. The company has a 50-day moving average price of $114.24 and a two-hundred day moving average price of $111.68.

Hedge Funds Weigh In On Seneca Foods

Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new stake in shares of Seneca Foods during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC acquired a new position in shares of Seneca Foods in the 2nd quarter valued at approximately $36,000. New York State Teachers Retirement System purchased a new position in shares of Seneca Foods during the 2nd quarter valued at approximately $43,000. CWM LLC grew its position in shares of Seneca Foods by 75.9% during the third quarter. CWM LLC now owns 475 shares of the company’s stock worth $51,000 after buying an additional 205 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Seneca Foods in the third quarter worth $57,000. Institutional investors and hedge funds own 42.51% of the company’s stock.

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.