Adecoagro S.A. (NYSE:AGRO) Sees Significant Decline in Short Interest

Adecoagro S.A. (NYSE:AGRO) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,490,000 shares, a decline of 13.9% from the September 15th total of 1,730,000 shares. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 1.4 days. Currently, 1.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in Adecoagro in the 2nd quarter valued at about $42,000. Quarry LP boosted its holdings in shares of Adecoagro by 259.4% in the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock valued at $74,000 after purchasing an additional 5,484 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Adecoagro in the 1st quarter valued at $128,000. BigSur Wealth Management LLC acquired a new position in shares of Adecoagro during the 2nd quarter worth $175,000. Finally, Aristides Capital LLC bought a new stake in shares of Adecoagro during the 2nd quarter worth $231,000. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Stock Performance

Adecoagro stock traded up $0.03 during midday trading on Wednesday, hitting $11.22. The company’s stock had a trading volume of 903,285 shares, compared to its average volume of 729,945. The company has a 50-day moving average price of $11.10 and a two-hundred day moving average price of $10.46. Adecoagro has a 1-year low of $8.72 and a 1-year high of $12.51. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 4.75, a PEG ratio of 1.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 0.98.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $411.42 million for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. As a group, sell-side analysts predict that Adecoagro will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AGRO shares. Bank of America dropped their price objective on Adecoagro from $15.50 to $14.50 and set a “buy” rating on the stock in a research note on Monday, September 9th. Morgan Stanley cut shares of Adecoagro from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $14.50 to $12.50 in a research report on Tuesday, September 17th. UBS Group started coverage on shares of Adecoagro in a research report on Monday. They issued a “neutral” rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Adecoagro from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $10.50 to $11.50 in a research note on Monday, July 1st. Finally, StockNews.com cut shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.63.

Adecoagro Company Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.