Adecoagro (NYSE:AGRO) Shares Gap Down to $9.70

Adecoagro S.A. (NYSE:AGRO) shares gapped down before the market opened on Wednesday . The stock had previously closed at $9.70, but opened at $9.50. Adecoagro shares last traded at $9.84, with a volume of 5,288 shares changing hands.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Adecoagro from a “buy” rating to a “hold” rating in a research note on Friday, July 9th. TheStreet lowered Adecoagro from a “b-” rating to a “c+” rating in a research note on Thursday, July 1st.

The firm has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $9.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.02 and a quick ratio of 1.02. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 11.02 and a beta of 1.31.

Several institutional investors have recently made changes to their positions in AGRO. Citigroup Inc. grew its holdings in shares of Adecoagro by 1.8% during the first quarter. Citigroup Inc. now owns 105,804 shares of the company’s stock worth $832,000 after buying an additional 1,900 shares in the last quarter. Cutler Group LP bought a new position in shares of Adecoagro during the second quarter worth about $25,000. Public Employees Retirement Association of Colorado bought a new position in shares of Adecoagro during the second quarter worth about $49,000. Van ECK Associates Corp grew its holdings in shares of Adecoagro by 10.6% during the second quarter. Van ECK Associates Corp now owns 59,149 shares of the company’s stock worth $594,000 after buying an additional 5,687 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Adecoagro by 34.6% in the first quarter. Geode Capital Management LLC now owns 26,941 shares of the company’s stock valued at $211,000 after purchasing an additional 6,918 shares in the last quarter. Institutional investors own 60.58% of the company’s stock.

About Adecoagro (NYSE:AGRO)

Adecoagro SA is a holding company, which engages in the provision of agricultural and agro-industrial products and services. It operates through the following segments: Farming; Sugar, Ethanol, and Energy; and Land Transformation. The Farming segment comprises planting, harvesting, processing, and marketing of rice; production and sale of raw milk; and other dairy products.

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