Could Inventure Foods Inc (SNAK) Go Down? The Stock Formed Bearish Double Bottom Chart Pattern

September 17, 2017 - By Hazel Jackson

Investors sentiment increased to 1.55 in Q4 2016. Its up 0.81, from 0.74 in 2016Q3. It is positive, as 8 investors sold Inventure Foods Inc shares while 21 reduced holdings. 15 funds opened positions while 30 raised stakes. 16.71 million shares or 3.35% less from 17.29 million shares in 2016Q3 were reported.
Creative Planning invested in 600 shares or 0% of the stock. Moreover, Penn Communications has 0.27% invested in Inventure Foods Inc (NASDAQ:SNAK). Ardsley Advisory reported 0.24% of its portfolio in Inventure Foods Inc (NASDAQ:SNAK). Blackrock Institutional Trust Na reported 0% of its portfolio in Inventure Foods Inc (NASDAQ:SNAK). Perkins Capital Management reported 198,750 shares or 2.15% of all its holdings. Cutter & Company Brokerage holds 0.3% of its portfolio in Inventure Foods Inc (NASDAQ:SNAK) for 73,800 shares. 19,000 were accumulated by Grt Capital Prtnrs Ltd Liability Com. Fmr Lc reported 0% stake. Kcg holds 0% of its portfolio in Inventure Foods Inc (NASDAQ:SNAK) for 12,061 shares. 1.07M are held by Alyeska Investment Limited Partnership. Rhumbline Advisers has 0% invested in Inventure Foods Inc (NASDAQ:SNAK) for 20,142 shares. Da Davidson Company reported 0% in Inventure Foods Inc (NASDAQ:SNAK). Sei Invs holds 0% or 22,757 shares in its portfolio. Bridgeway Management Inc invested 0.01% in Inventure Foods Inc (NASDAQ:SNAK). Moreover, Teton Advsr has 0.35% invested in Inventure Foods Inc (NASDAQ:SNAK) for 352,331 shares.

The chart of Inventure Foods Inc (SNAK) shows a double bottom with $4.39 target or 4.00 % below today’s $4.57 share price. The 9 months chart pattern indicates high risk for the $90.42M company. It was reported on Sep, 17 by Finviz.com. If the $4.39 price target is reached, the company will be worth $3.62M less. Double bottoms are rare but powerful chart patterns.

The stock increased 4.10% or $0.18 on September 15, reaching $4.57. About 191,818 shares traded or 10.01% up from the average. Inventure Foods Inc (NASDAQ:SNAK) has declined 34.17% since September 17, 2016 and is downtrending. It has underperformed by 50.87% the S&P500.

Inventure Foods Inc (NASDAQ:SNAK) Ratings Coverage

Among 6 analysts covering Inventure Foods (NASDAQ:SNAK), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Inventure Foods had 10 analyst reports since August 5, 2015 according to SRatingsIntel. TH Capital maintained the stock with “Buy” rating in Friday, November 6 report. The stock of Inventure Foods Inc (NASDAQ:SNAK) earned “Buy” rating by Roth Capital on Monday, March 21. The rating was initiated by Wunderlich with “Buy” on Wednesday, November 18. The firm earned “Buy” rating on Friday, February 26 by Wunderlich. The rating was upgraded by DA Davidson on Monday, December 14 to “Buy”. The stock of Inventure Foods Inc (NASDAQ:SNAK) has “Neutral” rating given on Friday, November 6 by DA Davidson. Canaccord Genuity maintained the shares of SNAK in report on Wednesday, August 5 with “Buy” rating. The stock of Inventure Foods Inc (NASDAQ:SNAK) earned “Buy” rating by Canaccord Genuity on Tuesday, January 19. The stock of Inventure Foods Inc (NASDAQ:SNAK) earned “Neutral” rating by DA Davidson on Friday, January 13.

More notable recent Inventure Foods Inc (NASDAQ:SNAK) news were published by: Prnewswire.com which released: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on March 20, 2017, also Seekingalpha.com with their article: “Inventure Foods announces sale of frozen brands” published on September 13, 2017, Seekingalpha.com published: “Inventure Foods’ (SNAK) CEO Terry McDaniel on Q4 2016 Results – Earnings Call …” on March 30, 2017. More interesting news about Inventure Foods Inc (NASDAQ:SNAK) were released by: Globenewswire.com and their article: “Inventure Foods Announces Strategic Sale of Fresh Frozen® Foods” published on March 23, 2017 as well as Nasdaq.com‘s news article titled: “Mid-Day Market Update: Applied Genetic Technologies Drops After Q4 Results …” with publication date: September 13, 2017.

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