Lavoro (NASDAQ:LVRO) Shares Gap Up to $6.22

Lavoro Limited (NASDAQ:LVRO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $6.22, but opened at $6.75. Lavoro shares last traded at $6.75, with a volume of 587 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus started coverage on Lavoro in a report on Thursday. They set a “buy” rating and a $12.00 target price on the stock.

Lavoro Stock Up 4.5 %

The firm’s 50-day moving average price is $6.12 and its 200 day moving average price is $5.91. The company has a quick ratio of 0.73, a current ratio of 1.10 and a debt-to-equity ratio of 0.07.

Lavoro (NASDAQ:LVRO) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.12) EPS for the quarter. The business had revenue of $265.50 million for the quarter.

Hedge Funds Weigh In On Lavoro

A number of institutional investors have recently modified their holdings of the business. MYDA Advisors LLC bought a new position in Lavoro in the first quarter valued at about $86,000. Summit Trail Advisors LLC bought a new stake in shares of Lavoro during the 2nd quarter valued at approximately $119,000. Kim LLC acquired a new position in Lavoro during the 1st quarter worth approximately $17,325,000. Sandia Investment Management LP bought a new position in Lavoro in the 1st quarter valued at approximately $11,201,000. Finally, Boothbay Fund Management LLC bought a new position in Lavoro in the 1st quarter valued at approximately $2,550,000. Institutional investors and hedge funds own 2.82% of the company’s stock.

About Lavoro

Lavoro Limited operates as an agricultural inputs retailer. The company operates through three segments: Brazil Cluster, LATAM Cluster, and Crop Care Cluster. It distributes agricultural inputs, such as crop protection, seeds, fertilizers, foliar fertilizers, biologicals, adjuvants, organominerals, and others for the agricultural industry.