Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Sees Large Increase in Short Interest

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 923,789 shares, an increase of 104.0% from the September 15th total of 452,852 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 287,044 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Bioceres Crop Solutions stock. Ardsley Advisory Partners LP raised its position in Bioceres Crop Solutions Corp. (NASDAQ:BIOX) by 691.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 475,000 shares of the company’s stock after acquiring an additional 415,000 shares during the period. Ardsley Advisory Partners LP owned about 0.75% of Bioceres Crop Solutions worth $622,000 as of its most recent filing with the SEC. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Bioceres Crop Solutions Stock Down 1.8%

Shares of NASDAQ BIOX opened at $0.33 on Wednesday. The company has a fifty day moving average price of $0.39 and a 200 day moving average price of $0.42. The company has a quick ratio of 0.63, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. Bioceres Crop Solutions has a 1-year low of $0.30 and a 1-year high of $2.19.

Bioceres Crop Solutions (NASDAQ:BIOX) last released its quarterly earnings results on Tuesday, September 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.33). The firm had revenue of $55.90 million during the quarter, compared to analyst estimates of $79.00 million. Bioceres Crop Solutions had a negative net margin of 94.76% and a negative return on equity of 39.11%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bioceres Crop Solutions in a report on Friday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bioceres Crop Solutions has an average rating of “Reduce” and a consensus price target of $2.00.

Bioceres Crop Solutions Company Profile

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) is an Argentina-based agricultural biotechnology company focused on developing technologies that improve crop productivity, resilience and sustainability. Its offerings include genetically enhanced seeds, biological crop inputs, seed treatments, biostimulants, fertilizers and crop protection products designed for use across major field crops.

The company is best known for its HB4 technology, a drought-tolerance trait developed for wheat and soybeans.