Adecoagro S.A. (NYSE:AGRO) Short Interest Update

Adecoagro S.A. (NYSE:AGRO) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 756,000 shares, a decline of 10.6% from the March 15th total of 845,400 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 503,000 shares, the days-to-cover ratio is presently 1.5 days.

Adecoagro Stock Down 1.2 %

Shares of NYSE AGRO opened at $10.65 on Wednesday. The firm’s 50-day moving average price is $10.41 and its 200-day moving average price is $10.69. The company has a current ratio of 2.14, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 5.05 and a beta of 1.12. Adecoagro has a 12-month low of $7.93 and a 12-month high of $12.51.

Adecoagro (NYSE:AGRO) last announced its earnings results on Thursday, March 14th. The company reported ($0.15) earnings per share (EPS) for the quarter. The business had revenue of $263.95 million for the quarter. Adecoagro had a net margin of 17.42% and a return on equity of 10.86%. On average, equities research analysts anticipate that Adecoagro will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Adecoagro from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.56.

Institutional Trading of Adecoagro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGRO. Goldman Sachs Group Inc. purchased a new stake in Adecoagro in the 2nd quarter worth about $13,015,000. Sagil Capital LLP purchased a new stake in Adecoagro in the 2nd quarter worth about $9,245,000. Verition Fund Management LLC purchased a new stake in Adecoagro in the 1st quarter worth about $6,060,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Adecoagro by 388.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 362,097 shares of the company’s stock worth $4,233,000 after purchasing an additional 287,919 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Adecoagro by 10.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,790,024 shares of the company’s stock worth $23,130,000 after purchasing an additional 264,483 shares during the period. 45.25% of the stock is owned by hedge funds and other institutional investors.

About Adecoagro

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.