Adecoagro (NYSE:AGRO) Shares Gap Up – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $9.79, but opened at $10.86. Adecoagro shares last traded at $11.05, with a volume of 799,596 shares.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Adecoagro from a “buy” rating to a “hold” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Adecoagro has a consensus rating of “Hold” and a consensus price target of $12.63.

Adecoagro Stock Performance

The company has a market capitalization of $1.12 billion, a PE ratio of 7.15, a PEG ratio of 1.46 and a beta of 1.03. The company has a current ratio of 2.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. The firm’s 50-day simple moving average is $9.74 and its 200-day simple moving average is $10.62.

Institutional Investors Weigh In On Adecoagro

Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in Adecoagro during the 3rd quarter worth approximately $37,000. Point72 Hong Kong Ltd grew its position in Adecoagro by 21.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 5,200 shares of the company’s stock worth $58,000 after purchasing an additional 933 shares during the last quarter. R Squared Ltd purchased a new stake in Adecoagro during the 4th quarter worth approximately $70,000. Blue Trust Inc. grew its position in Adecoagro by 1,281.5% during the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock worth $81,000 after purchasing an additional 6,792 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in Adecoagro during the 4th quarter worth approximately $108,000. 45.25% of the stock is owned by hedge funds and other institutional investors.

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.