Adecoagro (NYSE:AGRO) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Adecoagro S.A. (NYSE:AGRO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.29 and traded as high as $11.55. Adecoagro shares last traded at $11.2660, with a volume of 1,107,055 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on AGRO. Weiss Ratings downgraded shares of Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on Adecoagro from $7.00 to $10.50 and gave the company an “underweight” rating in a report on Monday, June 15th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Adecoagro has an average rating of “Reduce” and a consensus price target of $12.12.

Adecoagro Stock Up 0.9%

The firm has a market cap of $1.59 billion, a P/E ratio of 33.73 and a beta of -0.04. The company has a fifty day simple moving average of $9.89 and a 200-day simple moving average of $11.31. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 0.84.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.41). Adecoagro had a negative return on equity of 0.38% and a net margin of 3.03%.The firm had revenue of $538.50 million during the quarter, compared to the consensus estimate of $602.01 million. On average, equities analysts anticipate that Adecoagro S.A. will post 1.42 earnings per share for the current year.

Institutional Trading of Adecoagro

A number of large investors have recently made changes to their positions in AGRO. Orion Porfolio Solutions LLC bought a new stake in Adecoagro during the 4th quarter valued at $88,000. Van ECK Associates Corp raised its holdings in Adecoagro by 57.9% in the second quarter. Van ECK Associates Corp now owns 12,882 shares of the company’s stock worth $123,000 after purchasing an additional 4,723 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Adecoagro in the 4th quarter valued at about $123,000. Hsbc Holdings PLC purchased a new position in shares of Adecoagro in the 2nd quarter worth approximately $162,000. Finally, State of Wyoming lifted its position in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after acquiring an additional 5,334 shares during the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

About Adecoagro

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.