Canaccord Genuity Group Has Lowered Expectations for Bioceres Crop Solutions (NASDAQ:BIOX) Stock Price

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

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

Bioceres Crop Solutions Trading Down 6.1 %

Shares of BIOX stock opened at $6.42 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.86. Bioceres Crop Solutions has a 1-year low of $5.71 and a 1-year high of $14.05. The stock has a market capitalization of $403.50 million, a PE ratio of 330.67 and a beta of 0.49. The business has a 50-day moving average of $7.66 and a 200 day moving average of $9.83.

Bioceres Crop Solutions (NASDAQ:BIOX) last posted its 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). The business had revenue of $92.60 million during the quarter, compared to the consensus estimate of $117.15 million. Bioceres Crop Solutions had a return on equity of 0.68% and a net margin of 0.53%. During the same period in the previous year, the business earned ($0.07) earnings per share. As a group, sell-side analysts anticipate that Bioceres Crop Solutions will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Bioceres Crop Solutions

Several large investors have recently made changes to their positions in BIOX. Oppenheimer & Co. Inc. bought a new position in Bioceres Crop Solutions during the first quarter valued at approximately $139,000. Lazard Asset Management LLC purchased a new position in shares of Bioceres Crop Solutions in the first quarter valued at $212,000. Ping Capital Management Inc. bought a new stake in Bioceres Crop Solutions in the second quarter worth $448,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Bioceres Crop Solutions during the second quarter valued at $472,000. Finally, Dimensional Fund Advisors LP lifted its position in Bioceres Crop Solutions by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 61,330 shares of the company’s stock valued at $688,000 after purchasing an additional 5,341 shares during the last quarter. 17.68% of the stock is owned by institutional investors.

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.