After Reaching 52-Week High, Is Seneca Foods Corp’s Near-Term Analysis Positive?

The stock of Seneca Foods Corp (NASDAQ:SENEA) hit a new 52-week high and has $91.13 target or 164.00% above today’s $34.52 share price. The 8 months bullish chart indicates low risk for the $339.91 million company. The 1-year high was reported on Mar, 8 by If the $91.13 price target is reached, the company will be worth $557.45M more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.01% or $1.01 during the last trading session, hitting $34.52. Seneca Foods Corp (NASDAQ:SENEA) has risen 18.26% since July 31, 2015 and is uptrending. It has outperformed by 23.11% the S&P500.

Analysts await Seneca Foods Corp (NASDAQ:SENEA) to reports earnings on June, 14.

According to Zacks Investment Research, “Seneca Foods Corporation is an independent, publicly traded, food processing company. They are a fully integrated producer, having made significant investments in facilities and technologies to enhance manufacturing processes, increase line speeds and guarantee premium quality. At Seneca, they even develop crop seeds and manufacture their own cans to give an additional competitive advantage.”

The institutional sentiment increased to 0.93 in Q3 2015. Its up 0.10, from 0.83 in 2015Q2. The ratio improved, as 9 funds sold all Seneca Foods Corp shares owned while 31 reduced positions. 7 funds bought stakes while 30 increased positions. They now own 4.51 million shares or 6.98% less from 4.85 million shares in 2015Q2.

P.R. Herzig & Co. Inc. holds 5.83% of its portfolio in Seneca Foods Corp for 88,248 shares. Robotti Robert owns 75,080 shares or 1.32% of their US portfolio. Moreover, Capital Impact Advisors Llc has 0.35% invested in the company for 25,923 shares. The Pennsylvania-based Pennsylvania Trust Co has invested 0.25% in the stock. Tfs Capital Llc, a Pennsylvania-based fund reported 89,864 shares.

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