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

Shares of Adecoagro S.A. (NYSE:AGRO) gapped up before the market opened on Tuesday . The stock had previously closed at $9.79, but opened at $10.86. Adecoagro shares last traded at $11.05, with a volume of 799,596 shares trading hands.

Analysts Set New Price Targets

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

Adecoagro Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40. The company has a market capitalization of $1.12 billion, a P/E ratio of 7.15, a P/E/G ratio of 1.46 and a beta of 1.03. The business’s fifty day simple moving average is $9.74 and its 200-day simple moving average is $10.62.

Institutional Trading of Adecoagro

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. bought a new stake in Adecoagro in the 4th quarter valued at $153,000. PharVision Advisers LLC bought a new stake in Adecoagro in the 4th quarter valued at $225,000. Voloridge Investment Management LLC increased its holdings in Adecoagro by 3.5% in the 4th quarter. Voloridge Investment Management LLC now owns 475,680 shares of the company’s stock valued at $4,486,000 after acquiring an additional 16,291 shares during the last quarter. Vident Advisory LLC increased its holdings in Adecoagro by 15.8% in the 4th quarter. Vident Advisory LLC now owns 29,891 shares of the company’s stock valued at $282,000 after acquiring an additional 4,089 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Adecoagro by 36.4% in the 4th quarter. Point72 Asset Management L.P. now owns 59,723 shares of the company’s stock worth $563,000 after buying an additional 15,923 shares in the last quarter. 45.25% of the stock is currently owned by institutional investors.

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.