Adecoagro (NYSE:AGRO) was the target of a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 1,043,317 shares, an increase of 101.7% from the March 15th total of 517,168 shares. Based on an average daily volume of 772,777 shares, the short-interest ratio is presently 1.4 days. Approximately 0.9% of the shares of the company are sold short.
Adecoagro stock opened at $8.02 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.50 and a debt-to-equity ratio of 1.03. Adecoagro has a 1-year low of $7.22 and a 1-year high of $11.92. The company has a market capitalization of $962.69, a P/E ratio of 100.25 and a beta of 1.12.
A number of research firms have recently issued reports on AGRO. Zacks Investment Research raised Adecoagro from a “strong sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase lowered Adecoagro from an “overweight” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Wednesday, April 4th. UBS downgraded Adecoagro from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 15th. Finally, ValuEngine downgraded Adecoagro from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.00.
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Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company is involved in planting, harvesting, and selling grains, oilseeds, and fibers, including wheat, corn, soybeans, cotton, sunflowers, and others; and providing grain warehousing/conditioning, and handling and drying services to third parties.
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