Adecoagro (NYSE:AGRO) Shares Gap Up – Should You Buy?

Adecoagro S.A. (NYSE:AGRO) gapped up prior to trading on Monday . The stock had previously closed at $10.16, but opened at $10.68. Adecoagro shares last traded at $10.58, with a volume of 485,176 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial set a $9.00 target price on shares of Adecoagro in a research report on Friday, January 9th. Citigroup initiated coverage on Adecoagro in a research report on Monday, February 16th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on Adecoagro in a report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price objective for the company. UBS Group cut their target price on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 2nd. Finally, Wall Street Zen lowered Adecoagro from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Adecoagro has a consensus rating of “Hold” and an average target price of $8.50.

Adecoagro Trading Up 3.4%

The company has a market capitalization of $1.05 billion, a P/E ratio of 45.68 and a beta of 0.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.56. The business’s 50-day moving average price is $8.67 and its two-hundred day moving average price is $8.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGRO. Insigneo Advisory Services LLC raised its position in shares of Adecoagro by 166.8% during the second quarter. Insigneo Advisory Services LLC now owns 252,175 shares of the company’s stock worth $2,305,000 after purchasing an additional 157,655 shares during the period. Sparta 24 Ltd. increased its stake in Adecoagro by 4.8% during the 3rd quarter. Sparta 24 Ltd. now owns 2,200,278 shares of the company’s stock worth $17,250,000 after purchasing an additional 100,000 shares in the last quarter. Pale Fire Capital SE acquired a new stake in Adecoagro during the 2nd quarter worth approximately $774,000. Vise Technologies Inc. acquired a new stake in Adecoagro during the 2nd quarter worth approximately $277,000. Finally, Magnetar Financial LLC lifted its stake in Adecoagro by 105.9% in the second quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock valued at $289,000 after buying an additional 16,260 shares in the last quarter. 45.25% of the stock is owned by institutional investors and hedge funds.

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.