Brazil Potash Corp. (NYSEAMERICAN:GRO) Sees Large Drop in Short Interest

Brazil Potash Corp. (NYSEAMERICAN:GRO) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 169,787 shares, a decline of 40.0% from the June 15th total of 283,211 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 353,852 shares, the short-interest ratio is presently 0.5 days.

Analysts Set New Price Targets

Several brokerages have commented on GRO. HC Wainwright began coverage on shares of Brazil Potash in a report on Tuesday, June 16th. They issued a “buy” rating and a $4.75 price objective for the company. Zacks Research raised Brazil Potash from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Roth Capital restated a “buy” rating and issued a $5.25 target price on shares of Brazil Potash in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Brazil Potash Stock Down 1.8%

Shares of Brazil Potash stock traded down $0.04 during midday trading on Thursday, hitting $2.22. The company had a trading volume of 81,889 shares, compared to its average volume of 637,665. The firm has a 50 day moving average price of $2.36. Brazil Potash has a 52-week low of $1.45 and a 52-week high of $3.99.

Brazil Potash (NYSEAMERICAN:GRO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management grew its holdings in shares of Brazil Potash by 223.2% during the first quarter. Hollencrest Capital Management now owns 347,435 shares of the company’s stock valued at $1,126,000 after buying an additional 239,936 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Brazil Potash by 130.4% in the first quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock worth $1,117,000 after purchasing an additional 195,100 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Brazil Potash by 5,630.7% during the first quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock valued at $506,000 after purchasing an additional 153,550 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Brazil Potash during the first quarter valued at $274,000. Finally, Ferguson Shapiro LLC purchased a new stake in shares of Brazil Potash during the first quarter valued at $45,000.

Brazil Potash Company Profile

Brazil Potash Corp is a mineral exploration and development company with a potash mining project located in the state of Amazonas, Brazil. The company’s technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil. The operating activities of the company include focusing on the extraction and processing of potash ore from the mines of the Autazes Project and selling and distributing the processed potash in Brazil.