Bioceres Crop Solutions' (BIOX) Hold Rating Reiterated at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reiterated a "hold" rating on Bioceres Crop Solutions (BIOX) with a revised price target of $2.50, which reflects a significant decrease from their previous target of $6.50.
• Several analysts have downgraded Bioceres, with Brookline Capital Management also cutting its rating from "strong-buy" to "hold," while Oppenheimer reduced their price target from $7.00 to $6.00.
• The stock is currently trading at $2.24, down 16.1%, and with a market cap of $140.47 million, it has experienced a substantial decline from its 52-week high of $9.65.

Bioceres Crop Solutions (NASDAQ:BIOX - Get Free Report)'s stock had its "hold" rating reissued by analysts at Canaccord Genuity Group in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $2.50 price objective on the stock, down from their previous price objective of $6.50. Canaccord Genuity Group's price target would indicate a potential upside of 22.85% from the company's current price.

Several other analysts have also issued reports on BIOX. Oppenheimer lowered their target price on shares of Bioceres Crop Solutions from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Tuesday, July 15th. Brookline Capital Management downgraded shares of Bioceres Crop Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Bioceres Crop Solutions from a "sell" rating to a "hold" rating in a research note on Sunday, August 31st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $4.17.

Bioceres Crop Solutions Stock Down 0.2%

BIOX stock traded down $0.01 during midday trading on Wednesday, reaching $2.04. 446,690 shares of the company's stock traded hands, compared to its average volume of 244,810. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 0.22. The firm's fifty day moving average price is $3.26 and its 200-day moving average price is $4.08. Bioceres Crop Solutions has a 52 week low of $1.97 and a 52 week high of $8.78. The company has a market cap of $127.62 million, a price-to-earnings ratio of -2.51 and a beta of 0.43.

Institutional Trading of Bioceres Crop Solutions

Large investors have recently bought and sold shares of the company. PDT Partners LLC raised its stake in shares of Bioceres Crop Solutions by 58.9% in the second quarter. PDT Partners LLC now owns 28,180 shares of the company's stock valued at $126,000 after buying an additional 10,449 shares during the period. Jane Street Group LLC bought a new position in shares of Bioceres Crop Solutions during the 2nd quarter worth $202,000. Ardsley Advisory Partners LP increased its holdings in Bioceres Crop Solutions by 4.7% in the 2nd quarter. Ardsley Advisory Partners LP now owns 993,614 shares of the company's stock worth $4,441,000 after acquiring an additional 45,000 shares during the last quarter. Avanza Fonder AB raised its stake in Bioceres Crop Solutions by 62.9% in the 2nd quarter. Avanza Fonder AB now owns 26,164 shares of the company's stock valued at $117,000 after acquiring an additional 10,099 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Bioceres Crop Solutions by 3,535.8% during the first quarter. Jones Financial Companies Lllp now owns 5,490 shares of the company's stock valued at $25,000 after purchasing an additional 5,339 shares during the last quarter. 17.68% of the stock is owned by hedge funds and other institutional investors.

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.