Canaccord Genuity Group Cuts Bioceres Crop Solutions (NASDAQ:BIOX) Price Target to $7.00

Bioceres Crop Solutions (NASDAQ:BIOX) had its target price decreased by Canaccord Genuity Group from $9.50 to $7.00 in a research note published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Oppenheimer lowered their price target on Bioceres Crop Solutions from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $10.00.

Bioceres Crop Solutions Stock Performance

Shares of BIOX opened at $5.55 on Friday. The firm has a market cap of $348.04 million, a price-to-earnings ratio of 277.64 and a beta of 0.57. Bioceres Crop Solutions has a 12 month low of $5.50 and a 12 month high of $14.05. The company’s fifty day moving average is $6.62 and its 200-day moving average is $7.80. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.37.

Bioceres Crop Solutions (NASDAQ:BIOX) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.11). Bioceres Crop Solutions had a net margin of 0.53% and a return on equity of 0.68%. The company had revenue of $92.60 million for the quarter, compared to analyst estimates of $117.15 million. During the same quarter last year, the business earned ($0.07) EPS. Equities analysts expect that Bioceres Crop Solutions will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in Bioceres Crop Solutions by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 61,330 shares of the company’s stock valued at $688,000 after buying an additional 5,341 shares in the last quarter. Fourth Sail Capital LP lifted its position in 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 during the period. Stifel Financial Corp raised its position in shares of Bioceres Crop Solutions by 33.4% during the 3rd quarter. Stifel Financial Corp now owns 40,790 shares of the company’s stock valued at $321,000 after acquiring an additional 10,224 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Bioceres Crop Solutions by 49.3% during the third quarter. JPMorgan Chase & Co. now owns 89,973 shares of the company’s stock worth $708,000 after buying an additional 29,693 shares during the last quarter. Finally, Ping Capital Management Inc. grew its holdings in Bioceres Crop Solutions by 7.3% during the fourth quarter. Ping Capital Management Inc. now owns 44,000 shares of the company’s stock valued at $268,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 17.68% of the company’s stock.

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.