Short Interest in Brazil Potash Corp. (NYSEAMERICAN:GRO) Expands By 60.1%

Brazil Potash Corp. (NYSEAMERICAN:GRO) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 300,714 shares, an increase of 60.1% from the August 15th total of 187,844 shares. Based on an average trading volume of 281,549 shares, the short-interest ratio is presently 1.1 days. Approximately 0.6% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $4.75 price objective on shares of Brazil Potash in a research note on Wednesday, August 26th. Canaccord Genuity Group assumed coverage on Brazil Potash in a research report on Tuesday, July 21st. They set a “speculative buy” rating and a $5.00 target price on the stock. Finally, Zacks Research upgraded shares of Brazil Potash from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Brazil Potash Stock Performance

Shares of Brazil Potash stock opened at $2.40 on Friday. The stock’s fifty day simple moving average is $2.30. Brazil Potash has a 12 month low of $1.86 and a 12 month high of $3.99.

Brazil Potash (NYSEAMERICAN:GRO) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Institutional Trading of Brazil Potash

Hedge funds have recently added to or reduced their stakes in the stock. Integral Investment Advisors Inc. purchased a new position in Brazil Potash in the first quarter valued at about $36,000. Ferguson Shapiro LLC purchased a new stake in shares of Brazil Potash during the 1st quarter worth approximately $45,000. Squarepoint Ops LLC bought a new stake in shares of Brazil Potash in the 2nd quarter worth approximately $163,000. Walleye Capital LLC bought a new stake in shares of Brazil Potash in the first quarter valued at $274,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Brazil Potash by 4.5% in the first quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock worth $450,000 after purchasing an additional 5,937 shares in the last quarter.

About Brazil Potash

Brazil Potash Corp. is a mineral development company focused on advancing potash resources in Brazil. Its principal asset is the Autazes Potash Project in the state of Amazonas, which is intended to produce potassium chloride, a key fertilizer ingredient used in agricultural production.

The company is developing an integrated mining and processing operation designed to supply potash to Brazil’s agricultural market. Brazil is one of the world’s major agricultural producers and relies heavily on imported fertilizer, giving domestic potash production strategic importance.