Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Sees Large Drop in Short Interest

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totaling 1,198,641 shares, a decrease of 34.9% from the March 15th total of 1,841,462 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 779,577 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BIOX. Canaccord Genuity Group decreased their price objective on Bioceres Crop Solutions from $2.25 to $2.00 and set a “hold” rating on the stock in a report on Friday, January 2nd. Wall Street Zen cut Bioceres Crop Solutions from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bioceres Crop Solutions in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.00.

Hedge Funds Weigh In On Bioceres Crop Solutions

Several hedge funds have recently bought and sold shares of BIOX. Bank of America Corp DE grew its position in Bioceres Crop Solutions by 186.8% in the 4th quarter. Bank of America Corp DE now owns 5,735 shares of the company’s stock valued at $35,000 after acquiring an additional 3,735 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Bioceres Crop Solutions by 3,535.8% during the 1st quarter. Jones Financial Companies Lllp now owns 5,490 shares of the company’s stock worth $25,000 after buying an additional 5,339 shares in the last quarter. Jane Street Group LLC bought a new stake in Bioceres Crop Solutions during the second quarter valued at about $202,000. PDT Partners LLC boosted its position in Bioceres Crop Solutions by 58.9% during the second quarter. PDT Partners LLC now owns 28,180 shares of the company’s stock valued at $126,000 after purchasing an additional 10,449 shares in the last quarter. Finally, Ballast Asset Management LP boosted its position in Bioceres Crop Solutions by 69.9% during the third quarter. Ballast Asset Management LP now owns 745,030 shares of the company’s stock valued at $1,048,000 after purchasing an additional 306,624 shares in the last quarter. Institutional investors own 17.68% of the company’s stock.

Bioceres Crop Solutions Stock Performance

NASDAQ:BIOX opened at $0.58 on Tuesday. The stock’s fifty day moving average is $0.52 and its 200 day moving average is $1.16. Bioceres Crop Solutions has a fifty-two week low of $0.35 and a fifty-two week high of $5.18. The firm has a market capitalization of $36.55 million, a PE ratio of -0.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.90.

Bioceres Crop Solutions (NASDAQ:BIOX) last released its quarterly earnings results on Friday, March 13th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.15). The company had revenue of $73.67 million for the quarter, compared to analysts’ expectations of $104.55 million. Bioceres Crop Solutions had a negative net margin of 82.83% and a negative return on equity of 22.43%. On average, sell-side analysts anticipate that Bioceres Crop Solutions will post -0.05 earnings per share for the current year.

Bioceres Crop Solutions Company Profile

Bioceres Crop Solutions Corp. is an agricultural biotechnology company focused on developing, manufacturing and commercializing a range of crop inputs designed to enhance yields and improve sustainability. The company’s portfolio includes biological seed treatments, inoculants for nitrogen fixation, specialty fertilizers and proprietary biopesticides, which are formulated to support plant health and resilience under varying environmental conditions.

Among its flagship offerings is the HB4 drought-tolerant wheat technology, the first genetically modified wheat developed to withstand water stress, which has received regulatory approval in several markets.