Short Interest in Adecoagro S.A. (NYSE:AGRO) Drops By 22.7%

Adecoagro S.A. (NYSE:AGRO) saw a large drop in short interest in January. As of January 30th, there was short interest totaling 932,160 shares, a drop of 22.7% from the January 15th total of 1,206,161 shares. Based on an average daily volume of 539,638 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.9% of the shares of the company are sold short. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 539,638 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

AGRO has been the topic of a number of recent research reports. Truist Financial set a $9.00 price target on shares of Adecoagro in a research note on Friday, January 9th. Wall Street Zen cut shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. JPMorgan Chase & Co. started coverage on shares of Adecoagro in a research report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price target for the company. Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Friday, January 9th. Finally, Zacks Research upgraded Adecoagro from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $8.50.

Adecoagro Price Performance

NYSE:AGRO traded down $0.03 on Friday, reaching $8.65. The stock had a trading volume of 400,496 shares, compared to its average volume of 474,127. The company has a quick ratio of 1.56, a current ratio of 2.80 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $865.28 million, a P/E ratio of 37.59 and a beta of 0.45. Adecoagro has a 1-year low of $6.89 and a 1-year high of $11.78. The stock has a fifty day moving average price of $8.26 and a 200-day moving average price of $8.22.

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

Institutional Trading of Adecoagro

Several large investors have recently made changes to their positions in AGRO. Orion Porfolio Solutions LLC bought a new position in shares of Adecoagro in the fourth quarter valued at about $88,000. Jeppson Wealth Management LLC acquired a new stake in Adecoagro in the 3rd quarter valued at about $124,000. State of Wyoming increased its position in Adecoagro by 44.9% in the 2nd 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 in the last quarter. Savant Capital LLC bought a new position in shares of Adecoagro in the fourth quarter worth about $159,000. Finally, R Squared Ltd lifted its position in shares of Adecoagro by 61.1% during the third quarter. R Squared Ltd now owns 22,302 shares of the company’s stock worth $175,000 after purchasing an additional 8,462 shares in the last quarter. 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.