Adecoagro (NYSE:AGRO) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AGRO. Zacks Research upgraded shares of Adecoagro from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Truist Financial set a $9.00 price target on Adecoagro in a research report on Friday, January 9th. UBS Group cut their price target on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Tuesday, December 2nd. Bank of America upgraded Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Friday, January 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Adecoagro in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $8.50.

Adecoagro Trading Up 0.2%

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

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

Institutional Investors Weigh In On Adecoagro

Hedge funds have recently modified their holdings of the stock. Jeppson Wealth Management LLC acquired a new position in Adecoagro in the 3rd quarter valued at approximately $124,000. State of Wyoming grew its holdings in shares of Adecoagro by 44.9% during the 2nd quarter. State of Wyoming now owns 17,203 shares of the company’s stock valued at $157,000 after acquiring an additional 5,334 shares in the last quarter. R Squared Ltd increased its stake in shares of Adecoagro by 61.1% in the third quarter. R Squared Ltd now owns 22,302 shares of the company’s stock worth $175,000 after acquiring an additional 8,462 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Adecoagro in the second quarter worth $277,000. Finally, Magnetar Financial LLC raised its holdings in shares of 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 acquiring an additional 16,260 shares in the last quarter. 45.25% of the stock is owned by hedge funds and other institutional investors.

About Adecoagro

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.