Lavoro (NASDAQ:LVRO) Shares Gap Up to $5.84

Lavoro Limited (NASDAQ:LVRO) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.84, but opened at $6.26. Lavoro shares last traded at $6.06, with a volume of 48,916 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer initiated coverage on shares of Lavoro in a report on Thursday, April 11th. They set an “outperform” rating and a $11.00 price objective for the company.

Lavoro Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.05 and a quick ratio of 0.71. The stock’s 50-day moving average is $6.71 and its two-hundred day moving average is $6.99. The stock has a market cap of $697.32 million, a P/E ratio of -6.18 and a beta of 0.12.

Lavoro (NASDAQ:LVRO) last issued its earnings results on Thursday, March 7th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). Lavoro had a negative return on equity of 6.44% and a negative net margin of 5.99%. The company had revenue of $618.96 million for the quarter, compared to the consensus estimate of $626.10 million. Equities research analysts anticipate that Lavoro Limited will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Lavoro

Several institutional investors have recently bought and sold shares of LVRO. Sandia Investment Management LP purchased a new position in Lavoro in the 1st quarter worth about $11,201,000. Boothbay Fund Management LLC purchased a new position in Lavoro during the 1st quarter valued at about $2,550,000. Polar Asset Management Partners Inc. purchased a new position in Lavoro during the 1st quarter valued at about $941,000. Citadel Advisors LLC purchased a new position in Lavoro during the 2nd quarter valued at about $114,000. Finally, Northern Trust Corp purchased a new position in Lavoro during the 4th quarter valued at about $161,000. Institutional investors own 2.47% of the company’s stock.

About Lavoro

Lavoro Limited operates as an agricultural inputs retailer. The company operates through three segments: Brazil Cluster, LATAM Cluster, and Crop Care Cluster. It distributes agricultural inputs, such as crop protection, seeds, fertilizers, foliar fertilizers, biologicals, adjuvants, organominerals, and others for the agricultural industry.