Bioceres Crop Solutions (NASDAQ:BIOX) Price Target Cut to $5.00 by Analysts at Lake Street Capital

Key Points

• Lake Street Capital has reduced its target price for Bioceres Crop Solutions (NASDAQ:BIOX) from $8.00 to $5.00, indicating a potential upside of 138.66% from the stock's previous close despite maintaining a "buy" rating.
• Other analysts have also revised their ratings, with Oppenheimer lowering their target from $7.00 to $6.00 and Canaccord Genuity dropping their target to $2.50, reflecting mixed sentiments on the stock's performance.
• As of midday trading, Bioceres shares are down to $2.10, with a market capitalization of $131.38 million and significant recent trading activity indicating shifts in investor interest.

Bioceres Crop Solutions (NASDAQ:BIOX - Get Free Report) had its price objective reduced by analysts at Lake Street Capital from $8.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Lake Street Capital's price objective points to a potential upside of 156.41% from the stock's current price.

Several other research analysts have also recently issued reports on BIOX. Canaccord Genuity Group reiterated a "hold" rating and set a $2.50 target price (down from $6.50) on shares of Bioceres Crop Solutions in a report on Wednesday, September 10th. Brookline Capital Management cut shares of Bioceres Crop Solutions from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Oppenheimer dropped their target price on shares of Bioceres Crop Solutions from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Bioceres Crop Solutions from a "sell" rating to a "hold" rating in a report on Sunday, August 31st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $4.17.

Bioceres Crop Solutions Trading Down 4.4%

BIOX stock traded down $0.09 during trading on Wednesday, hitting $1.95. The company had a trading volume of 732,528 shares, compared to its average volume of 246,535. The firm has a market capitalization of $122.29 million, a P/E ratio of -2.41 and a beta of 0.43. Bioceres Crop Solutions has a 52-week low of $1.94 and a 52-week high of $8.78. The company has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $4.08. 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

Several institutional investors have recently made changes to their positions in the company. Fourth Sail Capital LP increased its holdings in shares of Bioceres Crop Solutions by 25.1% during the 1st quarter. Fourth Sail Capital LP now owns 4,627,669 shares of the company's stock valued at $21,125,000 after purchasing an additional 928,708 shares in the last quarter. Ardsley Advisory Partners LP increased its holdings in shares of Bioceres Crop Solutions by 4.7% during the 2nd quarter. Ardsley Advisory Partners LP now owns 993,614 shares of the company's stock valued at $4,441,000 after purchasing an additional 45,000 shares in the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Bioceres Crop Solutions by 11.4% during the 1st quarter. Long Focus Capital Management LLC now owns 829,748 shares of the company's stock valued at $3,788,000 after purchasing an additional 85,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bioceres Crop Solutions by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 823,916 shares of the company's stock valued at $3,761,000 after purchasing an additional 71,581 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Bioceres Crop Solutions by 77.5% during the 1st quarter. Allianz Asset Management GmbH now owns 236,717 shares of the company's stock valued at $1,081,000 after purchasing an additional 103,337 shares in the last quarter. 17.68% of the stock is owned by hedge funds and other institutional investors.

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.