Lavoro (NASDAQ:LVRO) Shares Gap Down – Here’s What Happened

Lavoro Limited (NASDAQ:LVRO) shares gapped down prior to trading on Friday . The stock had previously closed at $4.95, but opened at $4.61. Lavoro shares last traded at $4.78, with a volume of 139 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on LVRO. Barclays upgraded shares of Lavoro from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $6.00 to $5.00 in a research report on Tuesday, January 21st. Oppenheimer cut their price objective on shares of Lavoro from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Canaccord Genuity Group lowered their target price on shares of Lavoro from $6.25 to $5.50 and set a “buy” rating on the stock in a report on Tuesday, February 4th.

Lavoro Price Performance

The business’s 50-day moving average price is $4.49 and its 200 day moving average price is $4.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.98 and a quick ratio of 0.70.

Lavoro (NASDAQ:LVRO) last announced its quarterly earnings results on Monday, February 3rd. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.38). Lavoro had a negative net margin of 8.16% and a negative return on equity of 38.92%. Equities research analysts predict that Lavoro Limited will post -1.84 EPS for the current year.

Hedge Funds Weigh In On Lavoro

An institutional investor recently raised its position in Lavoro stock. Northern Trust Corp lifted its holdings in shares of Lavoro Limited (NASDAQ:LVRO) by 73.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,488 shares of the company’s stock after purchasing an additional 10,826 shares during the quarter. Northern Trust Corp’s holdings in Lavoro were worth $122,000 at the end of the most recent quarter. 2.47% of the stock is owned by 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.