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

Adecoagro S.A. (NYSE:AGRO) saw a significant decline in short interest in January. As of January 30th, there was short interest totaling 932,160 shares, a decline of 22.7% from the January 15th total of 1,206,161 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 539,638 shares, the short-interest ratio is currently 1.7 days. Based on an average trading volume of 539,638 shares, the short-interest ratio is currently 1.7 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AGRO. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Friday, January 9th. Wall Street Zen lowered Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Citigroup assumed coverage on Adecoagro in a research report on Monday. They set a “buy” rating for the company. Truist Financial set a $9.00 price objective on shares of Adecoagro in a research report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adecoagro in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Adecoagro Trading Down 0.3%

AGRO traded down $0.03 during midday trading on Monday, reaching $8.65. 400,496 shares of the company’s stock traded hands, compared to its average volume of 461,368. Adecoagro has a 52 week low of $6.89 and a 52 week high of $11.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.56. The firm has a fifty day moving average of $8.27 and a two-hundred day moving average of $8.21. The stock has a market capitalization of $865.28 million, a price-to-earnings ratio of 37.59 and a beta of 0.45.

Adecoagro (NYSE:AGRO) last released its quarterly earnings results on Monday, December 1st. The company reported $0.00 earnings per share (EPS) for the quarter. Adecoagro had a net margin of 1.67% and a return on equity of 3.09%. The company had revenue of $304.21 million during the quarter. On average, equities analysts anticipate that Adecoagro will post 1.24 earnings per share for the current fiscal year.

Institutional Trading of Adecoagro

Several hedge funds and other institutional investors have recently made changes to their positions in AGRO. Sparta 24 Ltd. bought a new position in shares of Adecoagro during the second quarter valued at $19,197,000. PenderFund Capital Management Ltd. bought a new stake in Adecoagro during the 3rd quarter valued at about $1,960,000. Invesco Ltd. raised its holdings in Adecoagro by 86.5% in the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares during the last quarter. Citadel Advisors LLC raised its holdings in Adecoagro by 335.1% in the third quarter. Citadel Advisors LLC now owns 237,170 shares of the company’s stock worth $1,859,000 after buying an additional 182,655 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Adecoagro by 321.3% in the third quarter. Two Sigma Investments LP now owns 218,703 shares of the company’s stock worth $1,715,000 after buying an additional 166,795 shares in the last quarter. Hedge funds and other institutional investors own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.