Adecoagro (NYSE:AGRO) Shares Cross Above 200 Day Moving Average – What’s Next?

Adecoagro S.A. (NYSE:AGRO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.25 and traded as high as $8.85. Adecoagro shares last traded at $8.75, with a volume of 349,592 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AGRO. Wall Street Zen lowered Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Truist Financial set a $9.00 price objective on shares of Adecoagro in a research report on Friday, January 9th. Zacks Research raised shares of Adecoagro from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Adecoagro in a research note on Monday, December 1st. They issued an “underweight” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $8.50.

Adecoagro Stock Up 0.2%

The firm has a market capitalization of $875.79 million, a price-to-earnings ratio of 38.05 and a beta of 0.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80. The business’s 50 day moving average is $8.19 and its 200-day moving average is $8.25.

Adecoagro (NYSE:AGRO) last released its quarterly earnings results on Monday, December 1st. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $304.21 million during the quarter. Adecoagro had a net margin of 1.67% and a return on equity of 3.09%. Equities analysts anticipate that Adecoagro S.A. will post 1.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sparta 24 Ltd. acquired a new position in Adecoagro during the 2nd quarter valued at $19,197,000. Insigneo Advisory Services LLC raised its position in shares of Adecoagro by 166.8% during the second quarter. Insigneo Advisory Services LLC now owns 252,175 shares of the company’s stock valued at $2,305,000 after buying an additional 157,655 shares during the last quarter. Pale Fire Capital SE acquired a new position in shares of Adecoagro during the second quarter valued at about $774,000. Vise Technologies Inc. bought a new stake in shares of Adecoagro in the second quarter valued at about $277,000. Finally, Magnetar Financial LLC grew its position in Adecoagro by 105.9% during the second quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock worth $289,000 after buying an additional 16,260 shares in the last quarter. 45.25% of the stock is currently owned by institutional investors and hedge funds.

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.