Lavoro (NASDAQ:LVRO) Shares Gap Down to $6.09

Shares of Lavoro Limited (NASDAQ:LVRO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $6.09, but opened at $5.92. Lavoro shares last traded at $5.85, with a volume of 1,369 shares.

Analysts Set New Price Targets

Separately, Oppenheimer assumed coverage on shares of Lavoro in a research report on Thursday. They issued an "outperform" rating and a $11.00 price objective on the stock.

Lavoro Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.05. The company has a market cap of $701.99 million, a P/E ratio of -6.14 and a beta of 0.12. The business's fifty day moving average is $6.71 and its two-hundred day moving average is $6.99.

Lavoro (NASDAQ:LVRO - Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.10). Lavoro had a negative return on equity of 6.44% and a negative net margin of 5.99%. The company had revenue of $618.96 million for the quarter, compared to analysts' expectations of $626.10 million. Equities analysts predict that Lavoro Limited will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Lavoro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sandia Investment Management LP acquired a new position in shares of Lavoro during the first quarter worth $11,201,000. Boothbay Fund Management LLC purchased a new stake in Lavoro in the first quarter valued at about $2,550,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Lavoro during the first quarter worth about $941,000. Citadel Advisors LLC acquired a new position in shares of Lavoro during the second quarter valued at about $114,000. Finally, Northern Trust Corp purchased a new position in shares of Lavoro in the 4th quarter valued at approximately $161,000. Hedge funds and other institutional investors own 2.47% of the company's stock.

About Lavoro

Lavoro Limited operates as an agricultural inputs retailer. The company operates through three segments: Brazil Cluster, LATAM Cluster, and Crop Care Cluster. It distributes agricultural inputs, such as crop protection, seeds, fertilizers, foliar fertilizers, biologicals, adjuvants, organominerals, and others for the agricultural industry.