Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Sees Significant Increase in Short Interest

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 752,600 shares, a growth of 20.7% from the October 15th total of 623,600 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 145,200 shares, the short-interest ratio is presently 5.2 days.

Institutional Trading of Bioceres Crop Solutions

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new stake in shares of Bioceres Crop Solutions in the first quarter valued at approximately $139,000. Lazard Asset Management LLC acquired a new stake in shares of Bioceres Crop Solutions in the first quarter valued at approximately $212,000. Stifel Financial Corp grew its position in shares of Bioceres Crop Solutions by 33.4% in the third quarter. Stifel Financial Corp now owns 40,790 shares of the company’s stock valued at $321,000 after purchasing an additional 10,224 shares during the last quarter. Ping Capital Management Inc. acquired a new stake in shares of Bioceres Crop Solutions in the second quarter valued at approximately $448,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Bioceres Crop Solutions in the second quarter valued at approximately $472,000. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BIOX. Canaccord Genuity Group raised shares of Bioceres Crop Solutions to a “strong-buy” rating in a report on Friday, July 19th. Oppenheimer cut their price target on shares of Bioceres Crop Solutions from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Roth Mkm cut their price target on shares of Bioceres Crop Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Lake Street Capital cut their price target on shares of Bioceres Crop Solutions from $25.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Canaccord Genuity Group cut their price target on shares of Bioceres Crop Solutions from $10.00 to $9.50 and set a “buy” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.13.

Bioceres Crop Solutions Price Performance

BIOX traded down $0.25 on Friday, hitting $6.17. 232,760 shares of the company were exchanged, compared to its average volume of 90,121. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.86 and a current ratio of 1.27. The business’s fifty day moving average is $7.58 and its 200 day moving average is $9.80. Bioceres Crop Solutions has a fifty-two week low of $5.71 and a fifty-two week high of $14.05. The firm has a market capitalization of $387.78 million, a P/E ratio of 321.16 and a beta of 0.49.

Bioceres Crop Solutions (NASDAQ:BIOX) last issued its earnings results on Monday, November 11th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.11). Bioceres Crop Solutions had a return on equity of 0.68% and a net margin of 0.53%. The company had revenue of $92.60 million for the quarter, compared to analyst estimates of $117.15 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, sell-side analysts anticipate that Bioceres Crop Solutions will post 0.33 EPS for the current year.

About Bioceres Crop Solutions

Bioceres Crop Solutions Corp., together with its subsidiaries, provides crop productivity solutions. It operates through Seed and Integrated Products, Crop Protection, and Crop Nutrition segments. The Seed and Integrated Products segment provides seed traits, germplasms, and seed treatment packs for healthier, and higher yielding crops.