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

Adecoagro S.A. (NYSE:AGRO) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 1,340,000 shares, a drop of 10.1% from the September 30th total of 1,490,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.5% of the shares of the company are sold short.

Adecoagro Price Performance

Shares of NYSE:AGRO traded down $0.04 during trading on Thursday, reaching $11.50. 435,632 shares of the company traded hands, compared to its average volume of 727,032. The company has a quick ratio of 0.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.48. Adecoagro has a 52 week low of $8.72 and a 52 week high of $12.51. The firm has a market capitalization of $1.20 billion, a PE ratio of 4.88, a PEG ratio of 1.06 and a beta of 1.08. The company’s 50 day moving average is $11.26 and its two-hundred day moving average is $10.48.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings results on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. Adecoagro had a net margin of 16.28% and a return on equity of 14.91%. The company had revenue of $411.42 million during the quarter. As a group, sell-side analysts predict that Adecoagro will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com downgraded Adecoagro from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Morgan Stanley downgraded shares of Adecoagro from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $14.50 to $12.50 in a research note on Tuesday, September 17th. Bank of America lowered their target price on Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Monday, September 9th. Finally, UBS Group began coverage on Adecoagro in a research report on Monday, October 14th. They set a “neutral” rating and a $12.00 price objective for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Adecoagro presently has an average rating of “Hold” and a consensus target price of $12.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AGRO. Point72 Hong Kong Ltd bought a new position in shares of Adecoagro during the 2nd quarter worth approximately $42,000. Quarry LP boosted its holdings in Adecoagro by 259.4% during the 2nd quarter. Quarry LP now owns 7,598 shares of the company’s stock worth $74,000 after acquiring an additional 5,484 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Adecoagro by 1,281.5% during the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock worth $81,000 after buying an additional 6,792 shares in the last quarter. nVerses Capital LLC purchased a new position in Adecoagro in the third quarter worth $94,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Adecoagro in the first quarter valued at about $128,000. 45.25% of the stock is owned by institutional investors and hedge funds.

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.