Lavoro (NASDAQ:LVRO) Shares Down 5.2%

Lavoro Limited (NASDAQ:LVRO) fell 5.2% on Tuesday . The company traded as low as $6.90 and last traded at $6.92. 5,815 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 12,437 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

Separately, Barclays began coverage on Lavoro in a research note on Tuesday, December 5th. They issued an “equal weight” rating and a $7.00 target price on the stock.

Lavoro Price Performance

The business has a 50 day simple moving average of $7.24 and a two-hundred day simple moving average of $7.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.05. The firm has a market capitalization of $778.37 million, a P/E ratio of -6.81 and a beta of 0.14.

Lavoro (NASDAQ:LVRO) last posted its quarterly earnings data on Thursday, March 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). Lavoro had a negative return on equity of 6.44% and a negative net margin of 5.99%. The firm had revenue of $618.96 million during the quarter, compared to analysts’ expectations of $626.10 million. On average, sell-side analysts expect that Lavoro Limited will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Lavoro

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sandia Investment Management LP purchased a new stake in Lavoro during the 1st quarter valued at about $11,201,000. Boothbay Fund Management LLC purchased a new stake in Lavoro during the 1st quarter valued at about $2,550,000. Polar Asset Management Partners Inc. purchased a new stake in Lavoro during the 1st quarter valued at about $941,000. Citadel Advisors LLC purchased a new stake in Lavoro during the 2nd quarter valued at about $114,000. Finally, Northern Trust Corp purchased a new stake in Lavoro in the 4th quarter worth approximately $161,000. 2.47% of the stock is currently owned by hedge funds and other institutional investors.

About Lavoro

Lavoro Limited operates as an agricultural inputs retailer. The company operates through three segments: Brazil Cluster, LATAM Cluster, and Crop Care Cluster. It distributes agricultural inputs, such as crop protection, seeds, fertilizers, foliar fertilizers, biologicals, adjuvants, organominerals, and others for the agricultural industry.