Bioceres Crop Solutions Corp. (NASDAQ:BIOX) Sees Large Increase in Short Interest

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) was the recipient of a large growth in short interest during the month of 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. Approximately 1.7% of the company's stock are short sold. Based on an average daily volume of 254,100 shares, the days-to-cover ratio is currently 2.4 days. Based on an average daily volume of 254,100 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.7% of the company's stock are short sold.

Bioceres Crop Solutions Price Performance

Shares of NASDAQ BIOX traded down $0.10 during midday trading on Friday, hitting $1.67. The stock had a trading volume of 521,957 shares, compared to its average volume of 607,994. The company has a market capitalization of $104.73 million, a PE ratio of -2.06 and a beta of 0.43. The stock has a 50 day simple moving average of $3.00 and a 200-day simple moving average of $4.00. Bioceres Crop Solutions has a 1 year low of $1.66 and a 1 year high of $8.56. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Bioceres Crop Solutions

A number of institutional investors have recently added to or reduced their stakes in BIOX. Jones Financial Companies Lllp lifted 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 worth $25,000 after buying an additional 5,339 shares in the last quarter. Bank of America Corp DE increased its stake in Bioceres Crop Solutions by 186.8% during the fourth quarter. Bank of America Corp DE now owns 5,735 shares of the company's stock worth $35,000 after acquiring an additional 3,735 shares during the last quarter. Avanza Fonder AB acquired a new stake in Bioceres Crop Solutions during the first quarter worth $72,000. PDT Partners LLC acquired a new stake in Bioceres Crop Solutions during the first quarter worth $81,000. Finally, Northern Trust Corp acquired a new stake in Bioceres Crop Solutions during the fourth quarter worth $93,000. Hedge funds and other institutional investors own 17.68% of the company's stock.

Analyst Ratings Changes

BIOX has been the subject of a number of research analyst reports. Oppenheimer set a $5.00 price target on Bioceres Crop Solutions in a research note on Tuesday, September 9th. Wall Street Zen lowered Bioceres Crop Solutions from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Brookline Capital Management lowered Bioceres Crop Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Lake Street Capital cut their price objective on 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, Canaccord Genuity Group reissued a "hold" rating and issued a $2.50 price objective (down from $6.50) on shares of Bioceres Crop Solutions in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Bioceres Crop Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $4.17.

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.