Brazil Potash (NYSEAMERICAN:GRO) Trading Down 1.3% – Here’s Why

Brazil Potash Corp. (NYSEAMERICAN:GRO)’s share price traded down 1.3% during mid-day trading on Tuesday . The stock traded as low as $2.18 and last traded at $2.23. Approximately 127,344 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 581,356 shares. The stock had previously closed at $2.26.

Analysts Set New Price Targets

GRO has been the topic of several analyst reports. HC Wainwright began coverage on shares of Brazil Potash in a research note on Tuesday, June 16th. They issued a “buy” rating and a $4.75 target price on the stock. Roth Capital reissued a “buy” rating and set a $5.25 price target on shares of Brazil Potash in a research report on Wednesday, April 29th. Zacks Research upgraded shares of Brazil Potash from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Canaccord Genuity Group assumed coverage on Brazil Potash in a research report on Tuesday, July 21st. They issued a “speculative buy” rating and a $5.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Brazil Potash has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Brazil Potash Stock Up 0.5%

The stock has a fifty day moving average price of $2.18.

Brazil Potash (NYSEAMERICAN:GRO) last posted its earnings results on Thursday, August 13th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRO. Hollencrest Capital Management lifted its holdings in shares of Brazil Potash by 223.2% during the 1st quarter. Hollencrest Capital Management now owns 347,435 shares of the company’s stock valued at $1,126,000 after buying an additional 239,936 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Brazil Potash by 130.4% in the first quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock worth $1,117,000 after acquiring an additional 195,100 shares during the period. Bank of America Corp DE increased its position in Brazil Potash by 5,630.7% during the first quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock valued at $506,000 after acquiring an additional 153,550 shares during the last quarter. Walleye Capital LLC bought a new position in Brazil Potash in the first quarter valued at about $274,000. Finally, Ferguson Shapiro LLC bought a new position in Brazil Potash in the first quarter valued at about $45,000.

About Brazil Potash

Brazil Potash Corp is a mineral exploration and development company with a potash mining project located in the state of Amazonas, Brazil. The company’s technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil. The operating activities of the company include focusing on the extraction and processing of potash ore from the mines of the Autazes Project and selling and distributing the processed potash in Brazil.