Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Short Interest Update

Key Points

• Bioceres Crop Solutions Corp. saw short interest grow by 46.9% in August, with 606,600 shares short sold as of August 31st.
• Analysts have downgraded their price targets, with Oppenheimer setting it at $5.00 and Canaccord Genuity reducing it to $2.50, reflecting concerns about the company's performance.
• Institutional ownership is significant, with 17.68% of the stock controlled by hedge funds, indicating strong interest from larger investors.

Bioceres Crop Solutions Corp. (NASDAQ:BIOX - Get Free Report) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 606,600 shares, a growth of 46.9% from the August 15th total of 412,900 shares. Based on an average daily trading volume, of 254,100 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.7% of the shares of the stock are short sold. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 254,100 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BIOX shares. Oppenheimer set a $5.00 price target on shares of Bioceres Crop Solutions in a research report on Tuesday, September 9th. Canaccord Genuity Group restated a "hold" rating and set a $2.50 price target (down from $6.50) on shares of Bioceres Crop Solutions in a research report on Wednesday, September 10th. Brookline Capital Management downgraded shares of Bioceres Crop Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Lake Street Capital dropped their target price on shares of Bioceres Crop Solutions from $8.00 to $5.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Finally, Wall Street Zen downgraded shares of Bioceres Crop Solutions from a "hold" rating to a "sell" rating in a report on Saturday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Bioceres Crop Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $4.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position 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 in the last quarter. Bank of America Corp DE increased its stake in shares of Bioceres Crop Solutions by 186.8% during the 4th quarter. Bank of America Corp DE now owns 5,735 shares of the company's stock worth $35,000 after purchasing an additional 3,735 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Bioceres Crop Solutions during the 1st quarter worth $72,000. PDT Partners LLC acquired a new position in shares of Bioceres Crop Solutions during the 1st quarter worth $81,000. Finally, Northern Trust Corp acquired a new position in shares of Bioceres Crop Solutions during the 4th quarter worth $93,000. 17.68% of the stock is owned by hedge funds and other institutional investors.

Bioceres Crop Solutions Stock Performance

Shares of BIOX opened at $1.95 on Tuesday. The company's 50 day moving average price is $3.21 and its 200 day moving average price is $4.06. Bioceres Crop Solutions has a 52 week low of $1.94 and a 52 week high of $8.78. The company has a market capitalization of $122.28 million, a PE ratio of -2.41 and a beta of 0.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.74 and a current ratio of 1.02.

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.

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