Bioceres Crop Solutions (NASDAQ:BIOX) Stock Price Up 28.6% - Still a Buy?

Key Points

• Bioceres Crop Solutions stock surged by 28.6% during trading, closing at $1.98 after reaching a high of $2.02, with trading volume significantly surpassing the average.
• Analysts have mixed views on the stock, with a consensus rating of "Hold" and a target price of $4.17, while one firm lowered its rating to "Sell."
• Institutional investors increased their stakes in Bioceres, with notable increases from Fourth Sail Capital LP and Allianz Asset Management GmbH, highlighting growing confidence among major shareholders.

Bioceres Crop Solutions Corp. (NASDAQ:BIOX - Get Free Report)'s share price rose 28.6% during trading on Wednesday . The company traded as high as $2.02 and last traded at $1.98. Approximately 4,324,112 shares traded hands during mid-day trading, an increase of 406% from the average daily volume of 853,784 shares. The stock had previously closed at $1.54.

Analysts Set New Price Targets

BIOX has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Bioceres Crop Solutions in a research report on Wednesday, October 8th. Wall Street Zen lowered Bioceres Crop Solutions from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Lake Street Capital decreased their target price on Bioceres Crop Solutions from $8.00 to $5.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Oppenheimer set a $5.00 target price on Bioceres Crop Solutions in a research report on Tuesday, September 9th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $2.50 target price (down from $6.50) on shares of Bioceres Crop Solutions in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $4.17.

Bioceres Crop Solutions Price Performance

The firm has a market cap of $124.17 million, a price-to-earnings ratio of -2.44 and a beta of 0.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.74 and a current ratio of 1.02. The business has a 50 day simple moving average of $2.23 and a 200-day simple moving average of $3.61.

Hedge Funds Weigh In On Bioceres Crop Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Fourth Sail Capital LP boosted its stake in shares of Bioceres Crop Solutions by 25.1% in the 1st quarter. Fourth Sail Capital LP now owns 4,627,669 shares of the company's stock worth $21,125,000 after buying an additional 928,708 shares during the last quarter. Ardsley Advisory Partners LP boosted its stake in shares of 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 buying an additional 45,000 shares during the last quarter. Long Focus Capital Management LLC boosted its stake in shares of Bioceres Crop Solutions by 11.4% in the 1st quarter. Long Focus Capital Management LLC now owns 829,748 shares of the company's stock worth $3,788,000 after buying an additional 85,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bioceres Crop Solutions by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 823,916 shares of the company's stock worth $3,761,000 after buying an additional 71,581 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Bioceres Crop Solutions by 77.5% in the 1st quarter. Allianz Asset Management GmbH now owns 236,717 shares of the company's stock worth $1,081,000 after buying an additional 103,337 shares during the last quarter. Hedge funds and other institutional investors own 17.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.