Seneca Foods Corp (NASDAQ:SENEA) Sees Large Growth in Short Interest

Seneca Foods Corp (NASDAQ:SENEA) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 122,600 shares, an increase of 9.3% from the May 30th total of 112,200 shares. Based on an average daily volume of 19,700 shares, the short-interest ratio is presently 6.2 days. Approximately 1.8% of the shares of the stock are short sold.

NASDAQ SENEA opened at $28.72 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.37 and a quick ratio of 0.90. Seneca Foods has a 1 year low of $21.97 and a 1 year high of $35.90. The company has a fifty day moving average of $26.52.

Several institutional investors and hedge funds have recently made changes to their positions in SENEA. BNP Paribas Arbitrage SA boosted its stake in shares of Seneca Foods by 608.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,501 shares of the company’s stock worth $37,000 after buying an additional 1,289 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Seneca Foods during the fourth quarter worth about $54,000. Oregon Public Employees Retirement Fund acquired a new stake in Seneca Foods in the fourth quarter valued at about $72,000. Metropolitan Life Insurance Co. NY acquired a new stake in Seneca Foods in the fourth quarter valued at about $74,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Seneca Foods in the fourth quarter valued at about $101,000. Institutional investors and hedge funds own 48.85% of the company’s stock.

Separately, BidaskClub cut Zynga from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Seneca Foods Company Profile

Seneca Foods Corporation provides packaged fruits and vegetables in the United States and internationally. It 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, Cherryman, and Seneca Farms.

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