Adecoagro (NYSE:AGRO) Stock Price Up 5.3% – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) shot up 5.3% during mid-day trading on Thursday . The stock traded as high as $14.18 and last traded at $14.3590. 1,286,560 shares traded hands during trading, an increase of 35% from the average session volume of 955,912 shares. The stock had previously closed at $13.63.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AGRO shares. Weiss Ratings upgraded shares of Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Citigroup initiated coverage on Adecoagro in a research report on Monday, February 16th. They issued a “buy” rating on the stock. Zacks Research lowered Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Truist Financial set a $9.00 price objective on Adecoagro in a research report on Friday, January 9th. Finally, UBS Group lowered their target price on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Adecoagro has a consensus rating of “Hold” and an average price target of $9.20.

Adecoagro Trading Up 5.9%

The company has a current ratio of 1.38, a quick ratio of 1.56 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.44 billion, a P/E ratio of -180.34 and a beta of 0.44. The business’s fifty day simple moving average is $9.19 and its two-hundred day simple moving average is $8.37.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. The company had revenue of $415.94 million for the quarter, compared to analyst estimates of $371.95 million. As a group, analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current year.

Institutional Trading of Adecoagro

Several institutional investors have recently modified their holdings of the company. Principal Securities Inc. increased its stake in shares of Adecoagro by 4.3% in the 4th quarter. Principal Securities Inc. now owns 44,530 shares of the company’s stock valued at $353,000 after buying an additional 1,851 shares during the period. Ping Capital Management Inc. lifted its stake in shares of Adecoagro by 3.1% during the third quarter. Ping Capital Management Inc. now owns 100,000 shares of the company’s stock valued at $784,000 after acquiring an additional 3,000 shares during the period. State of Wyoming lifted its stake in shares of Adecoagro by 17.8% during the third quarter. State of Wyoming now owns 20,270 shares of the company’s stock valued at $159,000 after acquiring an additional 3,067 shares during the period. Quantbot Technologies LP boosted its holdings in Adecoagro by 7.5% in the third quarter. Quantbot Technologies LP now owns 61,776 shares of the company’s stock valued at $484,000 after acquiring an additional 4,286 shares during the last quarter. Finally, R Squared Ltd increased its position in Adecoagro by 61.1% in the third quarter. R Squared Ltd now owns 22,302 shares of the company’s stock worth $175,000 after purchasing an additional 8,462 shares during the period. Institutional investors and hedge funds own 45.25% of the company’s stock.

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.