Lavoro (NASDAQ:LVRO) Stock Price Down 7.4% – Here’s What Happened

Lavoro Limited (NASDAQ:LVRO)’s share price dropped 7.4% on Friday . The stock traded as low as $1.02 and last traded at $1.12. Approximately 242,983 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 6,166,707 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Lavoro in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Lavoro has a consensus rating of “Strong Sell” and an average target price of $3.44.

Lavoro Stock Down 7.4%

The company’s 50 day simple moving average is $0.94 and its 200-day simple moving average is $1.50. The firm has a market cap of $130.60 million, a P/E ratio of -0.71 and a beta of 0.51.

Lavoro Company Profile

Lavoro Limited operates as an agricultural inputs retailer. The company operates through three segments: Brazil Cluster, LATAM Cluster, and Crop Care Cluster. It distributes agricultural inputs, such as crop protection, seeds, fertilizers, foliar fertilizers, biologicals, adjuvants, organominerals, and others for the agricultural industry. The company also produces specialty fertilizers, crop protection products, and biological crop inputs. It operates in Brazil, Colombia, and Uruguay. The company sells its products through its physical stores and digital channel.