Canaccord Genuity Group Lowers Bioceres Crop Solutions (NASDAQ:BIOX) Price Target to $9.50

Bioceres Crop Solutions (NASDAQ:BIOX) had its price objective cut by research analysts at Canaccord Genuity Group from $10.00 to $9.50 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 47.98% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Lake Street Capital decreased their price target on shares of Bioceres Crop Solutions from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Roth Mkm decreased their target price on Bioceres Crop Solutions from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Oppenheimer dropped their price target on Bioceres Crop Solutions from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Canaccord Genuity Group raised Bioceres Crop Solutions to a “strong-buy” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bioceres Crop Solutions has an average rating of “Buy” and an average price target of $12.13.

Bioceres Crop Solutions Stock Performance

BIOX opened at $6.42 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. Bioceres Crop Solutions has a 12-month low of $5.71 and a 12-month high of $14.05. The business has a 50 day moving average of $7.66 and a 200-day moving average of $9.83. The stock has a market cap of $403.50 million, a price-to-earnings ratio of 330.67 and a beta of 0.49.

Bioceres Crop Solutions (NASDAQ:BIOX) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.09) earnings per share (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 business had revenue of $92.60 million for the quarter, compared to analyst estimates of $117.15 million. During the same period in the prior year, the business earned ($0.07) EPS. On average, equities research analysts expect that Bioceres Crop Solutions will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BIOX. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Bioceres Crop Solutions during the 2nd quarter worth approximately $472,000. Fourth Sail Capital LP boosted its position in Bioceres Crop Solutions by 20.5% in the second quarter. Fourth Sail Capital LP now owns 1,961,825 shares of the company’s stock worth $21,992,000 after purchasing an additional 334,195 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Bioceres Crop Solutions during the 1st quarter valued at approximately $139,000. Ping Capital Management Inc. bought a new position in shares of Bioceres Crop Solutions during the 2nd quarter worth $448,000. Finally, Lazard Asset Management LLC bought a new position in Bioceres Crop Solutions in the 1st quarter worth approximately $212,000. 17.68% of the stock is currently owned by institutional investors and hedge funds.

Bioceres Crop Solutions Company Profile

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.