Oppenheimer Downgrades Bioceres Crop Solutions (NASDAQ:BIOX) to Market Perform

Key Points

• Oppenheimer has downgraded Bioceres Crop Solutions from an "outperform" rating to a "market perform" rating, reflecting a shift in investor outlook.
• Other analysts have also issued negative ratings on the stock, with target prices being lowered significantly, indicating declining confidence in its performance.
• Despite the challenges, Bioceres shares increased 3.7% to $1.83, showing some resilience in a turbulent market environment.

Bioceres Crop Solutions (NASDAQ:BIOX - Get Free Report) was downgraded by equities research analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports.

Several other equities research analysts have also issued reports on BIOX. Brookline Capital Management lowered Bioceres Crop Solutions from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 21st. 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. Canaccord Genuity Group reissued a "hold" rating and issued a $2.50 price objective (down previously from $6.50) on shares of Bioceres Crop Solutions in a report on Wednesday, September 10th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Bioceres Crop Solutions in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.17.

Bioceres Crop Solutions Stock Up 3.7%

Shares of BIOX traded up $0.07 during trading hours on Wednesday, reaching $1.83. The stock had a trading volume of 332,408 shares, compared to its average volume of 352,654. Bioceres Crop Solutions has a 12 month low of $1.20 and a 12 month high of $7.44. The firm has a 50-day simple moving average of $2.11 and a 200 day simple moving average of $3.53. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $114.45 million, a price-to-earnings ratio of -2.25 and a beta of 0.33.

Institutional Trading of Bioceres Crop Solutions

Large investors have recently modified their holdings of the business. Fourth Sail Capital LP lifted its position in Bioceres Crop Solutions by 25.1% in the first 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 during the last quarter. Ardsley Advisory Partners LP raised its holdings in shares of Bioceres Crop Solutions by 4.7% during the second quarter. Ardsley Advisory Partners LP now owns 993,614 shares of the company's stock valued at $4,441,000 after acquiring an additional 45,000 shares in the last quarter. Long Focus Capital Management LLC boosted its holdings in Bioceres Crop Solutions by 11.4% in the first quarter. Long Focus Capital Management LLC now owns 829,748 shares of the company's stock valued at $3,788,000 after acquiring an additional 85,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 during the period. Finally, Allianz Asset Management GmbH lifted its position 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 purchasing an additional 103,337 shares during the period. 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.