Brazil Potash Corp. (NYSEAMERICAN:GRO) Sees Large Drop in Short Interest

Brazil Potash Corp. (NYSEAMERICAN:GRO) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 169,787 shares, a drop of 40.0% from the June 15th total of 283,211 shares. Based on an average trading volume of 353,852 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Brazil Potash Stock Performance

GRO traded down $0.03 on Friday, reaching $2.18. 87,534 shares of the company’s stock were exchanged, compared to its average volume of 636,288. Brazil Potash has a twelve month low of $1.45 and a twelve month high of $3.99. The company’s 50 day simple moving average is $2.34.

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

Hedge Funds Weigh In On Brazil Potash

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integral Investment Advisors Inc. purchased a new stake in Brazil Potash during the 1st quarter worth $36,000. Ferguson Shapiro LLC purchased a new position in Brazil Potash in the first quarter valued at about $45,000. Walleye Capital LLC acquired a new position in shares of Brazil Potash during the first quarter worth about $274,000. EverSource Wealth Advisors LLC lifted its stake in shares of Brazil Potash by 4.5% during the first quarter. EverSource Wealth Advisors LLC now owns 138,839 shares of the company’s stock worth $450,000 after purchasing an additional 5,937 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Brazil Potash by 5,630.7% in the first quarter. Bank of America Corp DE now owns 156,277 shares of the company’s stock worth $506,000 after buying an additional 153,550 shares during the period.

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.