Adecoagro (NYSE:AGRO) Shares Gap Down – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $10.79, but opened at $10.41. Adecoagro shares last traded at $10.73, with a volume of 172,604 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.63.

Adecoagro Price Performance

The company has a fifty day simple moving average of $9.75 and a two-hundred day simple moving average of $10.66. The stock has a market capitalization of $1.12 billion, a P/E ratio of 7.16, a PEG ratio of 1.42 and a beta of 1.03. The company has a current ratio of 2.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48.

Institutional Trading of Adecoagro

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Adecoagro by 1,281.5% during the third quarter. Blue Trust Inc. now owns 7,322 shares of the company’s stock worth $81,000 after purchasing an additional 6,792 shares during the period. Helikon Investments Ltd boosted its holdings in Adecoagro by 169.2% during the third quarter. Helikon Investments Ltd now owns 6,941,857 shares of the company’s stock worth $76,846,000 after buying an additional 4,363,628 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Adecoagro during the 3rd quarter worth about $195,000. Citigroup Inc. increased its stake in shares of Adecoagro by 111.0% in the 3rd quarter. Citigroup Inc. now owns 500,113 shares of the company’s stock valued at $5,536,000 after acquiring an additional 263,125 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Adecoagro by 14,282.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 156,771 shares of the company’s stock valued at $1,735,000 after acquiring an additional 155,681 shares during the period. Institutional investors own 45.25% of the company’s stock.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.