Adecoagro (NYSE:AGRO) Shares Gap Up – Should You Buy?

Adecoagro S.A. (NYSE:AGRO) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.15, but opened at $11.60. Adecoagro shares last traded at $11.46, with a volume of 1,234,812 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Adecoagro currently has a consensus rating of “Hold” and a consensus target price of $12.63.

Adecoagro Stock Performance

The business’s 50-day moving average is $10.26 and its 200 day moving average is $10.64. The company has a market cap of $1.19 billion, a PE ratio of 7.61, a PEG ratio of 1.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Banco Santander S.A. purchased a new stake in Adecoagro during the 4th quarter valued at $73,714,000. Helikon Investments Ltd grew its position in shares of Adecoagro by 0.5% in the 4th quarter. Helikon Investments Ltd now owns 6,976,857 shares of the company’s stock worth $65,792,000 after buying an additional 35,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Adecoagro by 68.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,761,337 shares of the company’s stock worth $16,609,000 after buying an additional 714,911 shares during the last quarter. 683 Capital Management LLC increased its stake in shares of Adecoagro by 6.2% during the fourth quarter. 683 Capital Management LLC now owns 600,000 shares of the company’s stock valued at $5,658,000 after buying an additional 35,000 shares during the period. Finally, Causeway Capital Management LLC increased its position in Adecoagro by 88.8% during the 4th quarter. Causeway Capital Management LLC now owns 567,374 shares of the company’s stock valued at $5,350,000 after purchasing an additional 266,816 shares during the period. 45.25% of the stock is owned by hedge funds and other 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.