Adecoagro (NYSE:AGRO) Shares Gap Up – Should You Buy?

Adecoagro S.A. (NYSE:AGRO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.16, but opened at $10.68. Adecoagro shares last traded at $10.58, with a volume of 485,176 shares traded.

Analyst Ratings Changes

AGRO has been the topic of a number of analyst reports. UBS Group lowered their price target on Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of Adecoagro from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Wall Street Zen cut shares of Adecoagro from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Citigroup began coverage on shares of Adecoagro in a report on Monday, February 16th. They set a “buy” rating for the company. Finally, Truist Financial set a $9.00 price target on shares of Adecoagro in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Adecoagro presently has an average rating of “Hold” and a consensus price target of $8.50.

Adecoagro Stock Up 3.4%

The firm has a fifty day moving average price of $8.67 and a 200 day moving average price of $8.22. The company has a quick ratio of 1.56, a current ratio of 2.80 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.05 billion, a P/E ratio of 45.68 and a beta of 0.44.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Adecoagro by 48.4% during the first quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after acquiring an additional 28,275 shares during the last quarter. Jane Street Group LLC raised its holdings in Adecoagro by 20.5% during the 1st quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock worth $2,112,000 after purchasing an additional 32,169 shares during the last quarter. Vise Technologies Inc. acquired a new position in Adecoagro during the 2nd quarter valued at about $277,000. Magnetar Financial LLC boosted its stake in shares of Adecoagro by 105.9% in the 2nd quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock valued at $289,000 after purchasing an additional 16,260 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its position in shares of Adecoagro by 166.8% during the 2nd quarter. Insigneo Advisory Services LLC now owns 252,175 shares of the company’s stock worth $2,305,000 after buying an additional 157,655 shares during the period. 45.25% of the stock is currently owned by institutional investors.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.