Adecoagro S.A. (NYSE:AGRO) Short Interest Down 22.7% in January

Adecoagro S.A. (NYSE:AGRO) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 932,160 shares, a decrease of 22.7% from the January 15th total of 1,206,161 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 539,638 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 539,638 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AGRO shares. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research report on Friday, January 9th. Truist Financial set a $9.00 target price on shares of Adecoagro in a report on Friday, January 9th. UBS Group dropped their price target on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 2nd. Citigroup started coverage on shares of Adecoagro in a research note on Monday. They set a “buy” rating on the stock. Finally, Zacks Research upgraded shares of Adecoagro from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Adecoagro currently has a consensus rating of “Hold” and a consensus price target of $8.50.

Adecoagro Price Performance

AGRO stock traded up $0.06 during mid-day trading on Tuesday, reaching $8.71. 377,938 shares of the company’s stock were exchanged, compared to its average volume of 600,250. The stock’s 50 day moving average is $8.27 and its 200 day moving average is $8.21. Adecoagro has a 12-month low of $6.89 and a 12-month high of $11.78. The company has a market cap of $871.78 million, a price-to-earnings ratio of 37.87 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.56.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings results on Monday, December 1st. The company reported $0.00 earnings per share for the quarter. Adecoagro had a net margin of 1.67% and a return on equity of 3.09%. The firm had revenue of $304.21 million for the quarter. On average, research analysts expect that Adecoagro will post 1.24 EPS for the current year.

Institutional Trading of Adecoagro

Several large investors have recently added to or reduced their stakes in AGRO. Orion Porfolio Solutions LLC purchased a new position in shares of Adecoagro during the 4th quarter worth $88,000. Jeppson Wealth Management LLC acquired a new stake in Adecoagro during the third quarter worth about $124,000. State of Wyoming increased its position in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after purchasing an additional 5,334 shares during the last quarter. Savant Capital LLC purchased a new position in Adecoagro during the fourth quarter worth about $159,000. Finally, R Squared Ltd boosted its holdings in Adecoagro by 61.1% in the 3rd quarter. R Squared Ltd now owns 22,302 shares of the company’s stock valued at $175,000 after purchasing an additional 8,462 shares during the last quarter. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

About Adecoagro

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.