Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) shares surpassed their 200-day moving average of $11.14, trading up to $11.25 before closing at $11.08 with a trading volume of 110,748 shares.
• Wall Street Zen upgraded Cresud's rating from "hold" to "buy", indicating increased investor confidence in the company's stock performance.
• Several institutional investors, including Kopernik Global Investors LLC and GMT Capital Corp, significantly increased their holdings in Cresud during the second quarter, reflecting a growing interest in the company.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.14 and traded as high as $11.25. Cresud S.A.C.I.F. y A. shares last traded at $11.08, with a volume of 110,748 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Cresud S.A.C.I.F. y A. from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th.

Cresud S.A.C.I.F. y A. Stock Up 2.2%

The company has a market cap of $680.42 million, a price-to-earnings ratio of 9.63 and a beta of 1.03. The company has a current ratio of 1.25, a quick ratio of 0.95 and a debt-to-equity ratio of 0.43. The firm's fifty day simple moving average is $10.98 and its 200 day simple moving average is $11.14.

Hedge Funds Weigh In On Cresud S.A.C.I.F. y A.

Several institutional investors have recently bought and sold shares of the company. Kopernik Global Investors LLC grew its stake in Cresud S.A.C.I.F. y A. by 19.9% in the 2nd quarter. Kopernik Global Investors LLC now owns 2,392,876 shares of the company's stock valued at $25,747,000 after acquiring an additional 396,741 shares during the last quarter. GMT Capital Corp grew its stake in Cresud S.A.C.I.F. y A. by 52.9% in the 2nd quarter. GMT Capital Corp now owns 1,569,608 shares of the company's stock valued at $16,889,000 after acquiring an additional 543,213 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cresud S.A.C.I.F. y A. by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,038,336 shares of the company's stock valued at $11,474,000 after acquiring an additional 90,066 shares during the last quarter. 683 Capital Management LLC grew its stake in Cresud S.A.C.I.F. y A. by 7.1% in the 2nd quarter. 683 Capital Management LLC now owns 889,000 shares of the company's stock valued at $9,566,000 after acquiring an additional 59,000 shares during the last quarter. Finally, Helikon Investments Ltd grew its stake in Cresud S.A.C.I.F. y A. by 21.3% in the 2nd quarter. Helikon Investments Ltd now owns 395,181 shares of the company's stock valued at $4,252,000 after acquiring an additional 69,317 shares during the last quarter. 12.90% of the stock is owned by institutional investors and hedge funds.

Cresud S.A.C.I.F. y A. Company Profile

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, engages in the production of agricultural commodities in Brazil and other Latin American countries. The company operates through Agricultural Business, and Business Urban Properties and Investments segments.

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