Short Interest in Brazil Potash Corp. (NYSEAMERICAN:GRO) Declines By 40.0%

Brazil Potash Corp. (NYSEAMERICAN:GRO) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 169,787 shares, a decline of 40.0% from the June 15th total of 283,211 shares. Based on an average daily trading volume, of 353,852 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.3% of the shares of the stock are short sold.

Brazil Potash Price Performance

Shares of GRO remained flat at $2.21 during trading hours on Friday. The stock had a trading volume of 34,731 shares, compared to its average volume of 635,888. Brazil Potash has a one year low of $1.45 and a one year high of $3.99. The company’s fifty day simple moving average is $2.35.

Brazil Potash (NYSEAMERICAN:GRO) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

GRO has been the subject of a number of research analyst reports. HC Wainwright began coverage on shares of Brazil Potash in a report on Tuesday, June 16th. They issued a “buy” rating and a $4.75 price target for the company. Roth Capital reaffirmed a “buy” rating and issued a $5.25 price objective on shares of Brazil Potash in a research note on Wednesday, April 29th. Finally, Zacks Research upgraded shares of Brazil Potash from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.00.

Institutional Trading of Brazil Potash

Several hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management lifted its stake in shares of Brazil Potash by 223.2% in the first quarter. Hollencrest Capital Management now owns 347,435 shares of the company’s stock valued at $1,126,000 after buying an additional 239,936 shares during the period. Renaissance Technologies LLC increased its stake in Brazil Potash by 130.4% during the first quarter. Renaissance Technologies LLC now owns 344,700 shares of the company’s stock valued at $1,117,000 after acquiring an additional 195,100 shares during the period. Bank of America Corp DE raised its holdings in Brazil Potash by 5,630.7% in the 1st quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock valued at $506,000 after acquiring an additional 153,550 shares in the last quarter. Walleye Capital LLC acquired a new position in Brazil Potash in the 1st quarter valued at approximately $274,000. Finally, Ferguson Shapiro LLC bought a new stake in shares of Brazil Potash in the 1st quarter worth approximately $45,000.

Brazil Potash Company Profile

Brazil Potash Corp is a mineral exploration and development company with a potash mining project located in the state of Amazonas, Brazil. The company’s technical operations are based in Autazes, Amazonas, Brazil, and Belo Horizonte, Minas Gerais, Brazil. The operating activities of the company include focusing on the extraction and processing of potash ore from the mines of the Autazes Project and selling and distributing the processed potash in Brazil.