Wellington Management Reduces Holdings in Bioceres Crop Solutions Corp.

Wellington Management Group LLP reduced its stake in Bioceres Crop Solutions Corp. (NASDAQ:BIOX – Free Report) by 12.8% in the third quarter, as outlined in its latest 13F filing with the Securities and Exchange Commission. After selling 31,461 shares, Wellington now holds 214,373 shares of the company's stock, which accounts for approximately 0.34% of Bioceres and is valued at around $1,687,000 at the end of the reporting period.

Several other institutional investors have also recently adjusted their positions in Bioceres Crop Solutions. Dimensional Fund Advisors LP raised its stake by 9.5% in the second quarter, bringing its total to 61,330 shares worth $688,000 after an acquisition of an additional 5,341 shares. Stifel Financial Corp increased its holdings by 33.4% in the third quarter, now owning 40,790 shares valued at $321,000 after acquiring 10,224 more shares. Similarly, Ping Capital Management Inc. established a new stake in the second quarter valued at approximately $448,000, while Sumitomo Mitsui Trust Holdings Inc. bought a new position worth around $472,000 during the same period. Additionally, Long Focus Capital Management LLC enhanced its holdings by 19.9% in the second quarter, now possessing 280,547 shares valued at $3,145,000 following the purchase of 46,647 shares. According to reports, hedge funds and other institutional investors collectively own about 17.68% of Bioceres stock.

Analyst Ratings Changes

Various research analysts have recently provided updates on the ratings for BIOX shares. Lake Street Capital lowered its price target for Bioceres Crop Solutions from $25.00 to $13.00 and maintained a “buy” rating in a report released on September 11th. Oppenheimer reduced its target from $16.00 to $13.00 while assigning an “outperform” rating in a research note on October 21st. Roth MKM also cut its price target from $15.00 to $13.00 and confirmed a “buy” rating in a report on September 11th. Canaccord Genuity Group adjusted its price objective from $10.00 down to $9.50 and kept a “buy” rating in a research report on November 13th. Currently, four analysts rate the stock as a buy and two as a strong buy, with a consensus rating of “Buy” and an average target price of $12.13 according to MarketBeat.

Bioceres Crop Solutions Trading Down 3.8 %

On Thursday, the shares of NASDAQ:BIOX opened at $6.54. The company’s 50-day moving average is $6.81, while its 200-day moving average stands at $8.93. Over the past year, Bioceres Crop Solutions has experienced a low of $5.71 and a high of $14.05. Its market capitalization is approximately $411.03 million, with a price-to-earnings ratio of 327.16, and it has a beta of 0.51. The company reports a debt-to-equity ratio of 0.37, a current ratio of 1.27, and a quick ratio of 0.87.

Bioceres Crop Solutions (NASDAQ:BIOX – Get Free Report) last reported its earnings on November 11th, revealing earnings per share (EPS) of ($0.09), which fell short of the consensus estimate of $0.02 by ($0.11). The company had a net margin of 0.53% and a return on equity of 0.68%. Revenue for that quarter reached $92.60 million, compared to forecasted revenue of $117.15 million. In the same quarter the previous year, the company reported an EPS of ($0.07). Analysts are projecting that Bioceres Crop Solutions Corp. will post an EPS of 0.12 for the current fiscal year.

About Bioceres Crop Solutions

(Free Report) Bioceres Crop Solutions Corp., along with its subsidiaries, offers a range of crop productivity solutions. The company operates through different segments including Seed and Integrated Products, Crop Protection, and Crop Nutrition. The Seed and Integrated Products segment provides seed traits, germplasms, and seed treatment packs aimed at enhancing crop health and yield.

Wellington, Bioceres, Investors