Short Interest in Brazil Potash Corp. (NYSEAMERICAN:GRO) Increases By 60.1%

Brazil Potash Corp. (NYSEAMERICAN:GRO) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 300,714 shares, a growth of 60.1% from the August 15th total of 187,844 shares. Based on an average trading volume of 281,549 shares, the short-interest ratio is currently 1.1 days. Currently, 0.6% of the company’s shares are sold short.

Brazil Potash Price Performance

Shares of NYSEAMERICAN GRO traded up $0.04 during mid-day trading on Thursday, hitting $2.36. The stock had a trading volume of 88,431 shares, compared to its average volume of 528,880. The stock’s 50 day moving average price is $2.29. Brazil Potash has a twelve month low of $1.86 and a twelve month high of $3.99.

Brazil Potash (NYSEAMERICAN:GRO) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.13) earnings per share for the quarter.

Hedge Funds Weigh In On Brazil Potash

Large investors have recently made changes to their positions in the company. Integral Investment Advisors Inc. purchased a new position in Brazil Potash in the first quarter valued at $36,000. Ferguson Shapiro LLC acquired a new stake in shares of Brazil Potash in the first quarter worth approximately $45,000. Squarepoint Ops LLC purchased a new stake in shares of Brazil Potash during the second quarter worth approximately $163,000. Walleye Capital LLC acquired a new position in Brazil Potash in the 1st quarter valued at $274,000. Finally, EverSource Wealth Advisors LLC raised its stake in Brazil Potash by 4.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock valued at $450,000 after purchasing an additional 5,937 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on GRO. Zacks Research upgraded shares of Brazil Potash from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. HC Wainwright reiterated a “buy” rating and set a $4.75 price objective on shares of Brazil Potash in a research note on Wednesday, August 26th. Finally, Canaccord Genuity Group assumed coverage on shares of Brazil Potash in a report on Tuesday, July 21st. They set a “speculative buy” rating and a $5.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brazil Potash currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Brazil Potash Company Profile

Brazil Potash Corp. is a mineral development company focused on advancing potash resources in Brazil. Its principal asset is the Autazes Potash Project in the state of Amazonas, which is intended to produce potassium chloride, a key fertilizer ingredient used in agricultural production.

The company is developing an integrated mining and processing operation designed to supply potash to Brazil’s agricultural market. Brazil is one of the world’s major agricultural producers and relies heavily on imported fertilizer, giving domestic potash production strategic importance.