Brazil Potash (NYSEAMERICAN:GRO) Stock Price Down 2.3% – Here’s What Happened

Brazil Potash Corp. (NYSEAMERICAN:GRO) shares were down 2.3% on Thursday. The stock traded as low as $2.09 and last traded at $2.14. 153,315 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 502,222 shares. The stock had previously closed at $2.19.

Analyst Ratings Changes

Several brokerages recently weighed in 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 reaffirmed a “buy” rating and issued a $4.75 price target on shares of Brazil Potash in a research note on Wednesday, August 26th. Finally, Canaccord Genuity Group started coverage on shares of Brazil Potash in a report on Tuesday, July 21st. They issued a “speculative buy” rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Brazil Potash Price Performance

The business’s fifty day simple moving average is $2.33.

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

Institutional Trading of Brazil Potash

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in Brazil Potash in the 2nd quarter worth about $163,000. AWM Investment Company Inc. bought a new position in Brazil Potash in the 2nd quarter worth approximately $10,750,000. Bank of America Corp DE raised its stake in shares of Brazil Potash by 5,630.7% during the 1st quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock valued at $506,000 after purchasing an additional 153,550 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Brazil Potash by 4.5% in the first quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock valued at $450,000 after acquiring an additional 5,937 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Brazil Potash by 130.4% during the 1st quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock valued at $1,117,000 after acquiring an additional 195,100 shares during the last quarter.

About Brazil Potash

Brazil Potash Corp. is a mineral development company focused on advancing the Autazes Potash Project in the state of Amazonas, Brazil. The project is designed to produce potash, primarily potassium chloride, a fertilizer product used to support agricultural productivity.

The Autazes project is located in an agricultural region of Brazil and is intended to help supply the country’s domestic fertilizer market. Brazil is one of the world’s major agricultural producers but relies substantially on imported potash, giving the project potential strategic importance if it reaches commercial production.

Brazil Potash’s activities include exploration, project development, permitting, engineering and efforts to establish the infrastructure required to extract and process potash ore.