Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Sees Large Growth in Short Interest

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 611,100 shares, a growth of 26.9% from the September 15th total of 481,700 shares. Based on an average daily volume of 110,100 shares, the days-to-cover ratio is presently 5.6 days. Approximately 2.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BIOX shares. Roth Mkm reduced their price target on Bioceres Crop Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Canaccord Genuity Group dropped their price objective on Bioceres Crop Solutions from $17.00 to $12.50 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Roth Capital upgraded Bioceres Crop Solutions to a “strong-buy” rating in a research note on Tuesday, July 2nd. Oppenheimer dropped their price target on Bioceres Crop Solutions from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Finally, Lake Street Capital lowered their price objective on Bioceres Crop Solutions from $25.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bioceres Crop Solutions has a consensus rating of “Buy” and an average price target of $13.63.

Bioceres Crop Solutions Price Performance

Shares of BIOX traded down $0.21 during trading hours on Monday, hitting $7.30. 180,053 shares of the company were exchanged, compared to its average volume of 77,631. The company has a market cap of $458.42 million, a price-to-earnings ratio of 751.00 and a beta of 0.47. Bioceres Crop Solutions has a fifty-two week low of $7.22 and a fifty-two week high of $14.05. The company has a quick ratio of 0.91, a current ratio of 1.28 and a debt-to-equity ratio of 0.35. The firm’s fifty day moving average is $9.19 and its 200 day moving average is $10.70.

Bioceres Crop Solutions (NASDAQ:BIOX) last released its quarterly earnings data on Monday, September 9th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.23). The business had revenue of $124.30 million during the quarter, compared to analyst estimates of $126.75 million. Bioceres Crop Solutions had a net margin of 0.68% and a return on equity of 0.93%. During the same period last year, the business earned ($0.06) earnings per share. On average, equities analysts anticipate that Bioceres Crop Solutions will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bioceres Crop Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. acquired a new position in Bioceres Crop Solutions in the first quarter valued at approximately $139,000. Lazard Asset Management LLC acquired a new position in Bioceres Crop Solutions in the first quarter valued at approximately $212,000. Ping Capital Management Inc. acquired a new position in Bioceres Crop Solutions in the second quarter valued at approximately $448,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Bioceres Crop Solutions in the second quarter valued at approximately $472,000. Finally, Dimensional Fund Advisors LP lifted its stake in Bioceres Crop Solutions by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 61,330 shares of the company’s stock valued at $688,000 after buying an additional 5,341 shares during the period. 17.68% of the stock is owned by institutional investors and hedge funds.

Bioceres Crop Solutions Company Profile

Bioceres Crop Solutions Corp., together with its subsidiaries, provides crop productivity solutions. It operates through Seed and Integrated Products, Crop Protection, and Crop Nutrition segments. The Seed and Integrated Products segment provides seed traits, germplasms, and seed treatment packs for healthier, and higher yielding crops.