Adecoagro S.A. (NYSE:AGRO) Sees Significant Drop in Short Interest

Adecoagro S.A. (NYSE:AGRO) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 1,204,445 shares, a decrease of 28.9% from the December 15th total of 1,694,951 shares. Based on an average trading volume of 948,616 shares, the short-interest ratio is presently 1.3 days. Approximately 1.2% of the shares of the stock are short sold. Approximately 1.2% of the shares of the stock are short sold. Based on an average trading volume of 948,616 shares, the short-interest ratio is presently 1.3 days.

Institutional Investors Weigh In On Adecoagro

A number of hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new position in Adecoagro in the third quarter valued at about $295,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Adecoagro in the 3rd quarter worth approximately $1,082,000. Verition Fund Management LLC grew its holdings in shares of Adecoagro by 26.7% in the 3rd quarter. Verition Fund Management LLC now owns 83,517 shares of the company’s stock worth $655,000 after acquiring an additional 17,617 shares during the period. PenderFund Capital Management Ltd. purchased a new position in Adecoagro in the 3rd quarter valued at approximately $1,960,000. Finally, Citadel Advisors LLC raised its holdings in Adecoagro by 335.1% during the third quarter. Citadel Advisors LLC now owns 237,170 shares of the company’s stock worth $1,859,000 after purchasing an additional 182,655 shares during the last quarter. Institutional investors and hedge funds own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

AGRO has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Adecoagro in a research note on Wednesday, October 8th. Bank of America upgraded Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research report on Friday, January 9th. Truist Financial set a $9.00 target price on Adecoagro in a research note on Friday, January 9th. JPMorgan Chase & Co. began coverage on Adecoagro in a research report on Monday, December 1st. They issued an “underweight” rating and a $7.00 target price on the stock. Finally, UBS Group lowered their price target on Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus price target of $8.50.

Adecoagro Stock Down 2.9%

NYSE:AGRO traded down $0.25 during mid-day trading on Friday, hitting $8.19. The stock had a trading volume of 655,664 shares, compared to its average volume of 780,594. Adecoagro has a twelve month low of $6.89 and a twelve month high of $11.78. The stock has a 50-day simple moving average of $7.94 and a two-hundred day simple moving average of $8.30. The company has a current ratio of 2.80, a quick ratio of 1.56 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $819.24 million, a PE ratio of 35.59 and a beta of 0.43.

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

Adecoagro Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, November 19th. Shareholders of record on Monday, November 3rd were paid a $0.1749 dividend. This represents a yield of 444.0%. The ex-dividend date of this dividend was Monday, November 3rd. Adecoagro’s payout ratio is currently 152.17%.

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.