Adecoagro (NYSE:AGRO) Shares Gap Down – Should You Sell?

Shares of Adecoagro S.A. (NYSE:AGRO) gapped down prior to trading on Tuesday . The stock had previously closed at $15.25, but opened at $14.69. Adecoagro shares last traded at $15.7390, with a volume of 285,681 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AGRO shares. Truist Financial set a $9.00 target price on shares of Adecoagro in a research note on Friday, January 9th. JPMorgan Chase & Co. initiated coverage on Adecoagro in a report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price objective for the company. Morgan Stanley raised Adecoagro from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $9.50 to $13.00 in a research report on Tuesday, March 17th. Citigroup assumed coverage on Adecoagro in a research note on Monday, February 16th. They set a “buy” rating for the company. Finally, Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective on the stock in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.84.

Adecoagro Price Performance

The company has a current ratio of 1.38, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.59 billion, a P/E ratio of -197.23, a price-to-earnings-growth ratio of 0.29 and a beta of 0.44. The stock has a 50 day moving average of $10.14 and a 200-day moving average of $8.71.

Adecoagro (NYSE:AGRO) last released its earnings results on Saturday, February 14th. The company reported ($0.15) earnings per share for the quarter. Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%.The business had revenue of $432.91 million for the quarter. On average, equities research analysts anticipate that Adecoagro S.A. will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Adecoagro

In other Adecoagro news, CEO Mariano Bosch sold 100,000 shares of Adecoagro stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $14.50, for a total value of $1,450,000.00. Following the transaction, the chief executive officer owned 897,249 shares in the company, valued at $13,010,110.50. The trade was a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Adecoagro

Several hedge funds have recently modified their holdings of AGRO. Ghisallo Capital Management LLC purchased a new stake in shares of Adecoagro during the fourth quarter worth approximately $2,987,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Adecoagro in the 3rd quarter valued at approximately $1,960,000. Invesco Ltd. increased its stake in Adecoagro by 86.5% during the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after acquiring an additional 212,685 shares during the last quarter. Burkehill Global Management LP purchased a new position in Adecoagro during the fourth quarter worth about $1,586,000. Finally, Millennium Management LLC raised its position in Adecoagro by 240.9% in the fourth quarter. Millennium Management LLC now owns 276,376 shares of the company’s stock valued at $2,192,000 after purchasing an additional 195,308 shares during the period. Institutional investors and hedge funds own 45.25% of the company’s stock.

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.