Canaccord Genuity Group Cuts Bioceres Crop Solutions (NASDAQ:BIOX) Price Target to $6.50

Bioceres Crop Solutions (NASDAQ:BIOX) had its target price reduced by Canaccord Genuity Group from $7.00 to $6.50 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 35.98% from the stock’s current price.

BIOX has been the topic of several other research reports. Oppenheimer reduced their price target on shares of Bioceres Crop Solutions from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Lake Street Capital cut their price objective on Bioceres Crop Solutions from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bioceres Crop Solutions currently has a consensus rating of “Buy” and an average price target of $9.88.

Bioceres Crop Solutions Stock Down 13.9 %

NASDAQ BIOX opened at $4.78 on Thursday. The business’s fifty day simple moving average is $6.53 and its 200-day simple moving average is $7.68. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $299.75 million, a PE ratio of 239.12 and a beta of 0.57. Bioceres Crop Solutions has a 52 week low of $4.70 and a 52 week high of $13.80.

Bioceres Crop Solutions (NASDAQ:BIOX) last issued its earnings results on Monday, November 11th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $92.60 million for the quarter, compared to analysts’ expectations of $117.15 million. During the same period last year, the firm earned ($0.07) earnings per share. As a group, equities analysts anticipate that Bioceres Crop Solutions will post 0.12 earnings per share for the current year.

Institutional Trading of Bioceres Crop Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Bioceres Crop Solutions by 49.3% during the third quarter. JPMorgan Chase & Co. now owns 89,973 shares of the company’s stock worth $708,000 after buying an additional 29,693 shares during the period. Fourth Sail Capital LP lifted its stake in Bioceres Crop Solutions by 61.6% during the 3rd quarter. Fourth Sail Capital LP now owns 3,171,102 shares of the company’s stock worth $24,957,000 after acquiring an additional 1,209,277 shares in the last quarter. Stifel Financial Corp boosted its holdings in Bioceres Crop Solutions by 33.4% during the 3rd quarter. Stifel Financial Corp now owns 40,790 shares of the company’s stock valued at $321,000 after acquiring an additional 10,224 shares during the period. Ping Capital Management Inc. grew its position in Bioceres Crop Solutions by 7.3% in the 4th quarter. Ping Capital Management Inc. now owns 44,000 shares of the company’s stock valued at $268,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Ballast Asset Management LP grew its position in Bioceres Crop Solutions by 23.5% in the 4th quarter. Ballast Asset Management LP now owns 431,887 shares of the company’s stock valued at $2,620,000 after acquiring an additional 82,187 shares in the last quarter. Hedge funds and other institutional investors own 17.68% of the company’s stock.

Bioceres Crop Solutions Company Profile

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.