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

Adecoagro S.A. (NYSE:AGROGet Free Report) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 842,000 shares, an increase of 132.2% from the January 15th total of 362,600 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 699,700 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

AGRO has been the subject of several analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 price objective (down previously from $11.50) on shares of Adecoagro in a research note on Friday, December 8th. StockNews.com upgraded shares of Adecoagro from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Finally, Bank of America upgraded shares of Adecoagro from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.50 to $14.00 in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.56.

View Our Latest Analysis on AGRO

Adecoagro Stock Performance

Shares of AGRO stock opened at $9.83 on Tuesday. The company has a 50 day moving average of $10.73 and a 200-day moving average of $10.90. The company has a quick ratio of 1.00, a current ratio of 1.89 and a debt-to-equity ratio of 0.58. Adecoagro has a 12-month low of $7.34 and a 12-month high of $12.51. The firm has a market cap of $1.04 billion, a P/E ratio of 7.18 and a beta of 1.11.

Adecoagro (NYSE:AGROGet Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported $0.83 earnings per share for the quarter. Adecoagro had a net margin of 10.45% and a return on equity of 13.93%. The business had revenue of $385.79 million during the quarter. Sell-side analysts anticipate that Adecoagro will post 1.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AGRO. Jennison Associates LLC boosted its holdings in Adecoagro by 5.0% in the 4th quarter. Jennison Associates LLC now owns 5,371,368 shares of the company’s stock valued at $59,622,000 after purchasing an additional 255,684 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Adecoagro by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,943,599 shares of the company’s stock worth $34,411,000 after acquiring an additional 25,700 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Adecoagro during the 2nd quarter worth $13,015,000. Helikon Investments Ltd lifted its holdings in shares of Adecoagro by 12.4% during the 4th quarter. Helikon Investments Ltd now owns 1,292,270 shares of the company’s stock worth $14,344,000 after acquiring an additional 142,595 shares during the last quarter. Finally, abrdn plc lifted its holdings in shares of Adecoagro by 15.6% during the 3rd quarter. abrdn plc now owns 1,005,939 shares of the company’s stock worth $11,759,000 after acquiring an additional 135,990 shares during the last quarter. 43.38% of the stock is currently owned by hedge funds and other institutional investors.

About Adecoagro

(Get Free Report)

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.

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