Seneca Foods Corp. – Class B (NASDAQ:SENEB) Stock Traded 6.2% Above Its 50 Day Average


The stock is trading at $32.32 a tad above the 50 day moving average of $30.44 and a bit lower than the 200 day moving average of $35.16. The 50 day moving average was up $1.88 or +6.182% whereas the 200 day moving average was down $-2.85 or -8.100%. Trading was heavy with 616 shares changing hands on Wednesday. Volume was up 732.43% over the stocks average daily volume.

Investors are feeling more bullish on shares of the company of late if you look at the motion in short interest. The firm experienced a fall in short interest of -24.14% between August 15, 2017 and August 31, 2017. Short interest decreased from 555 to 421 over that period. With short interest at 421 and short average daily volume at 101, days to cover is 4.0 and the percentage of shorted shares was 0.00% on August 31.

Seneca Foods Corp. – Class B (NASDAQ:SENEB) has been the object of insider buying activity recently. Director Arthur H. Baer bought 2,000 shares at an average price of $29.30 on Thu the 3rd. The Director now owns $58,600 of the stock as recorded in a recent Form 4 SEC filing.

A few notable investment firms have updated their holdings. As of quarter end Tower Research Capital LLC (trc) had disposed of a total of 21 shares trimming its holdings by 11.0%. The value of the investment in SENEB decreased from $7,000 to $6,000 a change of $1,000 since the last quarter. Morgan Stanley downsized its position by selling 853 shares a decrease of 98.4% in the quarter. Morgan Stanley now controls 14 shares valued at $1,000. The value of the position overall is down by 97.0%.

The P/E ratio is 27.179 and market capitalization is 318.18M.

Seneca Foods Corporation, launched on August 17, 1949, is a provider of packaged fruits and vegetables. The Company manages its business through two segments: packaging and sale of fruits and vegetables, and packaging and sale of chip products. Its product offerings include canned fruits and vegetables, frozen vegetables and other food products, frozen and bottled produce, and snack chips. Its products are sold under private label, as well as national and regional brands that the Company owns or licenses, including Seneca, Libby’s, Green Valley, Aunt Nellie’s, READ, Cherryman and Seneca Farms. The Company 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 (B&G) under a contract packing agreement. Its two segments constitute the food operation. The non-food operation is primarily related to the sale of cans and ends, and the Business’s trucking and aircraft operations..