Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Sees Significant Decline in Short Interest

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 667,800 shares, a decrease of 10.7% from the November 15th total of 747,900 shares. Based on an average daily trading volume, of 184,500 shares, the days-to-cover ratio is currently 3.6 days. Approximately 2.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

BIOX has been the subject of several recent analyst reports. Lake Street Capital cut their price target on shares of Bioceres Crop Solutions from $25.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Oppenheimer decreased their price target on shares of Bioceres Crop Solutions from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Canaccord Genuity Group cut their price objective on Bioceres Crop Solutions from $10.00 to $9.50 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Roth Mkm decreased their target price on Bioceres Crop Solutions from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.13.

Bioceres Crop Solutions Price Performance

BIOX stock traded down $0.13 during mid-day trading on Tuesday, reaching $6.64. The company’s stock had a trading volume of 42,570 shares, compared to its average volume of 100,107. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $6.84 and its two-hundred day moving average is $8.98. Bioceres Crop Solutions has a fifty-two week low of $5.71 and a fifty-two week high of $14.05. The stock has a market cap of $417.31 million, a PE ratio of 338.50 and a beta of 0.51.

Bioceres Crop Solutions (NASDAQ:BIOX) last posted its quarterly earnings results on Monday, November 11th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $92.60 million during the quarter, compared to analyst estimates of $117.15 million. Bioceres Crop Solutions had a net margin of 0.53% and a return on equity of 0.68%. During the same period in the prior year, the business posted ($0.07) EPS. Equities research analysts expect that Bioceres Crop Solutions will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Bioceres Crop Solutions

Hedge funds have recently modified their holdings of the company. Fourth Sail Capital LP raised its stake in Bioceres Crop Solutions by 61.6% during the third quarter. Fourth Sail Capital LP now owns 3,171,102 shares of the company’s stock worth $24,957,000 after purchasing an additional 1,209,277 shares during the period. Long Focus Capital Management LLC raised its position in shares of Bioceres Crop Solutions by 19.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 280,547 shares of the company’s stock valued at $3,145,000 after buying an additional 46,647 shares during the period. Oak Family Advisors LLC lifted its holdings in Bioceres Crop Solutions by 1.9% in the second quarter. Oak Family Advisors LLC now owns 64,925 shares of the company’s stock valued at $728,000 after acquiring an additional 1,208 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 worth $688,000 after acquiring an additional 5,341 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Bioceres Crop Solutions during the second quarter worth $472,000. Hedge funds and other institutional investors own 17.68% of the company’s stock.

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.