Brazil Potash Corp. (NYSEAMERICAN:GRO) Short Interest Down 40.0% in June

Key Points

• Short interest in Brazil Potash fell sharply in June, dropping 40% to 169,787 shares as of June 30. The stock’s short-interest ratio is just 0.5 days, with about 0.3% of shares sold short.
• The stock traded lower on the day, falling 1.8% to $2.22, and volume was below its average. Brazil Potash is trading between a 52-week low of $1.45 and a high of $3.99.
• Analysts remain broadly positive on the company, with two Buy ratings and one Hold, and a consensus target price of $5.00. Institutional investors have also recently increased stakes in the stock.

Brazil Potash Corp. (NYSEAMERICAN:GRO - Get Free Report) saw a significant decline in short interest in June. As of June 30th, there was short interest totaling 169,787 shares, a decline of 40.0% from the June 15th total of 283,211 shares. Based on an average trading volume of 353,852 shares, the short-interest ratio is presently 0.5 days. Approximately 0.3% of the shares of the stock are short sold.

Brazil Potash Trading Down 1.8%

Shares of NYSEAMERICAN:GRO traded down $0.04 on Thursday, reaching $2.22. 81,889 shares of the company traded hands, compared to its average volume of 637,665. The business has a 50-day simple moving average of $2.36. Brazil Potash has a 52 week low of $1.45 and a 52 week high of $3.99.

Brazil Potash (NYSEAMERICAN:GRO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.31 EPS for the quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Roth Capital reaffirmed a "buy" rating and set a $5.25 price target on shares of Brazil Potash in a research note on Wednesday, April 29th. HC Wainwright started coverage on Brazil Potash in a research report on Tuesday, June 16th. They set a "buy" rating and a $4.75 price objective on the stock. Finally, Zacks Research raised Brazil Potash from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.00.

Hedge Funds Weigh In On Brazil Potash

Hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management grew its stake in shares of Brazil Potash by 223.2% in the first quarter. Hollencrest Capital Management now owns 347,435 shares of the company's stock worth $1,126,000 after purchasing an additional 239,936 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Brazil Potash by 130.4% in the 1st quarter. Renaissance Technologies LLC now owns 344,700 shares of the company's stock worth $1,117,000 after buying an additional 195,100 shares during the period. Bank of America Corp DE grew its position in shares of Brazil Potash by 5,630.7% in the 1st quarter. Bank of America Corp DE now owns 156,277 shares of the company's stock worth $506,000 after buying an additional 153,550 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Brazil Potash by 4.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company's stock worth $450,000 after buying an additional 5,937 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Brazil Potash during the first quarter valued at approximately $274,000.

Brazil Potash Company Profile

Brazil Potash Corp is a mineral exploration and development company with a potash mining project located in the state of Amazonas, Brazil. The company's technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil. The operating activities of the company include focusing on the extraction and processing of potash ore from the mines of the Autazes Project and selling and distributing the processed potash in Brazil.

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