Canaccord Genuity Group Issues Pessimistic Forecast for Bioceres Crop Solutions (NASDAQ:BIOX) Stock Price

Bioceres Crop Solutions (NASDAQ:BIOX) had its target price cut by Canaccord Genuity Group from $10.00 to $9.50 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

BIOX has been the subject of a number of other research reports. Roth Mkm cut their target price on shares of Bioceres Crop Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Canaccord Genuity Group raised shares of Bioceres Crop Solutions to a “strong-buy” rating in a report on Friday, July 19th. Lake Street Capital lowered their target price on shares of Bioceres Crop Solutions from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Oppenheimer cut their price target on Bioceres Crop Solutions from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $12.13.

Bioceres Crop Solutions Price Performance

Shares of NASDAQ BIOX opened at $6.17 on Wednesday. Bioceres Crop Solutions has a twelve month low of $5.71 and a twelve month high of $14.05. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $7.50 and its 200-day moving average price is $9.76. The company has a market capitalization of $387.78 million, a PE ratio of 308.65 and a beta of 0.49.

Bioceres Crop Solutions (NASDAQ:BIOX) last issued its earnings results on Monday, November 11th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.11). The firm had revenue of $92.60 million during the quarter, compared to the consensus estimate of $117.15 million. Bioceres Crop Solutions had a net margin of 0.53% and a return on equity of 0.68%. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. On average, equities analysts anticipate that Bioceres Crop Solutions will post 0.33 EPS for the current year.

Institutional Trading of Bioceres Crop Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Fourth Sail Capital LP grew its position in shares of Bioceres Crop Solutions by 61.6% during the 3rd quarter. Fourth Sail Capital LP now owns 3,171,102 shares of the company’s stock valued at $24,957,000 after purchasing an additional 1,209,277 shares in the last quarter. Long Focus Capital Management LLC grew its position in Bioceres Crop Solutions by 19.9% during the second quarter. Long Focus Capital Management LLC now owns 280,547 shares of the company’s stock worth $3,145,000 after buying an additional 46,647 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Bioceres Crop Solutions in the 2nd quarter worth about $472,000. Ping Capital Management Inc. purchased a new stake in shares of Bioceres Crop Solutions in the 2nd quarter valued at about $448,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Bioceres Crop Solutions in the 1st quarter valued at about $212,000. 17.68% of the stock is currently 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.