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

Brazil Potash Corp. (NYSEAMERICAN:GRO) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 300,714 shares, a growth of 60.1% from the August 15th total of 187,844 shares. Based on an average trading volume of 281,549 shares, the short-interest ratio is presently 1.1 days. Currently, 0.6% of the shares of the company are sold short.

Institutional Trading of Brazil Potash

Several institutional investors have recently bought and sold shares of GRO. EverSource Wealth Advisors LLC grew its position in Brazil Potash by 4.5% in the first quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock valued at $450,000 after acquiring an additional 5,937 shares during the period. Integral Investment Advisors Inc. bought a new position in shares of Brazil Potash during the first quarter valued at $36,000. Ferguson Shapiro LLC acquired a new stake in shares of Brazil Potash in the 1st quarter valued at $45,000. Squarepoint Ops LLC bought a new stake in shares of Brazil Potash in the 2nd quarter worth about $163,000. Finally, Walleye Capital LLC bought a new stake in shares of Brazil Potash in the 1st quarter worth about $274,000.

Brazil Potash Trading Up 1.3%

NYSEAMERICAN GRO opened at $2.43 on Friday. Brazil Potash has a twelve month low of $1.86 and a twelve month high of $3.99. The company has a 50-day simple moving average of $2.30.

Brazil Potash (NYSEAMERICAN:GRO) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.13) EPS for the quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on GRO. HC Wainwright reiterated a “buy” rating and issued a $4.75 price objective on shares of Brazil Potash in a research report on Wednesday, August 26th. Zacks Research upgraded Brazil Potash from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Canaccord Genuity Group assumed coverage on Brazil Potash in a research report on Tuesday, July 21st. They issued a “speculative buy” rating and a $5.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Brazil Potash has an average rating of “Moderate Buy” and a consensus target price of $5.00.

About Brazil Potash

Brazil Potash Corp. is a mineral development company focused on advancing potash resources in Brazil. Its principal asset is the Autazes Potash Project in the state of Amazonas, which is intended to produce potassium chloride, a key fertilizer ingredient used in agricultural production.

The company is developing an integrated mining and processing operation designed to supply potash to Brazil’s agricultural market. Brazil is one of the world’s major agricultural producers and relies heavily on imported fertilizer, giving domestic potash production strategic importance.