Adecoagro (NYSE:AGRO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Adecoagro S.A. (NYSE:AGRO) saw unusually-strong trading volume on Tuesday . Approximately 1,405,974 shares changed hands during trading, an increase of 121% from the previous session’s volume of 636,001 shares.The stock last traded at $10.1450 and had previously closed at $9.99.

Wall Street Analyst Weigh In

Several research analysts recently commented on AGRO shares. Bank of America upgraded shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price on the stock in a report on Friday, January 9th. JPMorgan Chase & Co. began coverage on Adecoagro in a research report on Monday, December 1st. They issued an “underweight” rating and a $7.00 price target on the stock. Citigroup assumed coverage on Adecoagro in a research note on Monday, February 16th. They issued a “buy” rating on the stock. Wall Street Zen cut Adecoagro from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Finally, UBS Group decreased their target price on Adecoagro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Adecoagro Trading Up 2.1%

The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 44.32 and a beta of 0.44. The company’s 50 day moving average is $8.71 and its 200 day moving average is $8.23. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.56 and a current ratio of 2.80.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AGRO. Insigneo Advisory Services LLC increased its stake in Adecoagro by 166.8% during the second quarter. Insigneo Advisory Services LLC now owns 252,175 shares of the company’s stock valued at $2,305,000 after acquiring an additional 157,655 shares during the period. Sparta 24 Ltd. lifted its position in shares of Adecoagro by 4.8% in the 3rd quarter. Sparta 24 Ltd. now owns 2,200,278 shares of the company’s stock worth $17,250,000 after acquiring an additional 100,000 shares during the period. Pale Fire Capital SE bought a new stake in shares of Adecoagro in the 2nd quarter worth approximately $774,000. Vise Technologies Inc. acquired a new stake in shares of Adecoagro during the 2nd quarter worth approximately $277,000. Finally, Magnetar Financial LLC grew its holdings in shares of Adecoagro by 105.9% during the 2nd quarter. Magnetar Financial LLC now owns 31,615 shares of the company’s stock worth $289,000 after purchasing an additional 16,260 shares in the last quarter. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.