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 report issued on Wednesday, MarketBeat Ratings reports. They presently have a $2.50 price objective on the stock, down from their previous price objective of $6.50. Canaccord Genuity Group's target price would indicate a potential upside of 11.61% from the stock's current price.

BIOX has been the subject of several other reports. Brookline Capital Management cut shares of Bioceres Crop Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. Oppenheimer cut their price objective on shares of Bioceres Crop Solutions from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised Bioceres Crop Solutions from a "sell" rating to a "hold" rating in a research report on Sunday, August 31st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.38.

Bioceres Crop Solutions Trading Down 16.1%

Shares of BIOX opened at $2.24 on Wednesday. Bioceres Crop Solutions has a 52-week low of $1.97 and a 52-week high of $9.65. 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 is $3.43 and its two-hundred day moving average is $4.13. The stock has a market cap of $140.47 million, a PE ratio of -16.00, a price-to-earnings-growth ratio of 1.14 and a beta of 0.43.

Institutional Investors Weigh In On Bioceres Crop Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fourth Sail Capital LP lifted its stake in Bioceres Crop Solutions by 25.1% during the first quarter. Fourth Sail Capital LP now owns 4,627,669 shares of the company's stock worth $21,125,000 after purchasing an additional 928,708 shares during the last quarter. Ardsley Advisory Partners LP lifted its stake in Bioceres Crop Solutions by 4.7% during the second quarter. Ardsley Advisory Partners LP now owns 993,614 shares of the company's stock worth $4,441,000 after purchasing an additional 45,000 shares during the last quarter. Long Focus Capital Management LLC lifted its stake in Bioceres Crop Solutions by 11.4% during the first quarter. Long Focus Capital Management LLC now owns 829,748 shares of the company's stock worth $3,788,000 after purchasing an additional 85,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bioceres Crop Solutions by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 823,916 shares of the company's stock worth $3,761,000 after purchasing an additional 71,581 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Bioceres Crop Solutions by 77.5% during the first quarter. Allianz Asset Management GmbH now owns 236,717 shares of the company's stock worth $1,081,000 after purchasing an additional 103,337 shares during the last quarter. Institutional investors and hedge funds 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.

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