Adecoagro (NYSE:AGRO) Shares Gap Down – Here’s What Happened

Shares of Adecoagro S.A. (NYSE:AGRO) gapped down before the market opened on Wednesday . The stock had previously closed at $15.03, but opened at $13.87. Adecoagro shares last traded at $14.2760, with a volume of 516,872 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Truist Financial set a $9.00 price objective on shares of Adecoagro in a research report on Friday, January 9th. Zacks Research downgraded Adecoagro from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Bank of America raised Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price for the company in a report on Friday, January 9th. UBS Group raised Adecoagro from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $8.00 to $16.20 in a report on Monday, March 30th. Finally, Wall Street Zen raised Adecoagro from a “sell” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.84.

Adecoagro Stock Performance

The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -177.98, a P/E/G ratio of 0.31 and a beta of 0.08. The stock has a 50 day moving average of $10.88 and a 200 day moving average of $9.01. The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.77.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Saturday, February 14th. The company reported ($0.15) EPS for the quarter. The company had revenue of $432.91 million during the quarter. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. As a group, analysts anticipate that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mariano Bosch sold 100,000 shares of the business’s 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 completion of the transaction, the chief executive officer owned 897,249 shares of the company’s stock, 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 through this link. 6.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Adecoagro during the fourth quarter worth about $147,000. Tudor Investment Corp ET AL raised its stake in Adecoagro by 134.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 88,132 shares of the company’s stock worth $699,000 after acquiring an additional 50,464 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Adecoagro during the fourth quarter worth about $939,000. Quadrature Capital Ltd acquired a new position in Adecoagro during the fourth quarter worth about $123,000. Finally, Millennium Management LLC raised its stake in Adecoagro by 240.9% during the fourth quarter. Millennium Management LLC now owns 276,376 shares of the company’s stock worth $2,192,000 after acquiring an additional 195,308 shares in the last quarter. 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.