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

Bioceres Crop Solutions Corp. (NASDAQ:BIOX) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 584,300 shares, a decline of 18.6% from the December 31st total of 717,500 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily volume of 199,600 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

A number of brokerages have commented on BIOX. Canaccord Genuity Group reduced their target price 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, November 13th. Oppenheimer decreased their target price on Bioceres Crop Solutions from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $11.88.

Bioceres Crop Solutions Price Performance

Shares of BIOX stock traded down $0.30 on Monday, hitting $6.55. 100,464 shares of the stock traded hands, compared to its average volume of 204,094. The firm has a 50 day simple moving average of $6.69 and a two-hundred day simple moving average of $7.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.27 and a quick ratio of 0.87. Bioceres Crop Solutions has a 52 week low of $5.71 and a 52 week high of $14.05. The firm has a market cap of $410.75 million, a price-to-earnings ratio of 327.66 and a beta of 0.57.

Bioceres Crop Solutions (NASDAQ:BIOX) last released its quarterly earnings data on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). The company had revenue of $92.60 million for the quarter, compared to the consensus estimate of $117.15 million. Bioceres Crop Solutions had a net margin of 0.53% and a return on equity of 0.68%. During the same quarter in the previous year, the business earned ($0.07) EPS. As a group, equities research analysts predict that Bioceres Crop Solutions will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bioceres Crop Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ping Capital Management Inc. raised its stake in Bioceres Crop Solutions by 7.3% during the fourth quarter. Ping Capital Management Inc. now owns 44,000 shares of the company’s stock valued at $268,000 after purchasing an additional 3,000 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Bioceres Crop Solutions by 33.4% in the 3rd quarter. Stifel Financial Corp now owns 40,790 shares of the company’s stock worth $321,000 after buying an additional 10,224 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Bioceres Crop Solutions by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 61,330 shares of the company’s stock valued at $688,000 after acquiring an additional 5,341 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Bioceres Crop Solutions by 49.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,973 shares of the company’s stock valued at $708,000 after acquiring an additional 29,693 shares during the last quarter. Finally, Fourth Sail Capital LP increased its stake in Bioceres Crop Solutions by 61.6% during the third 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 during the last quarter. 17.68% of the stock is owned by institutional investors.

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.