Lavoro (NASDAQ:LVRO) Downgraded by Canaccord Genuity Group to Hold

Lavoro (NASDAQ:LVRO) was downgraded by analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a report released on Monday, MarketBeat Ratings reports. They currently have a $2.25 price target on the stock, down from their previous price target of $5.50. Canaccord Genuity Group’s price objective points to a potential upside of 2.74% from the stock’s current price.

A number of other analysts also recently commented on the company. Oppenheimer reaffirmed an “underperform” rating on shares of Lavoro in a research report on Thursday, June 5th. UBS Group set a $5.00 price target on Lavoro in a research report on Tuesday, April 22nd. Finally, Barclays reaffirmed an “underweight” rating and set a $1.50 price target (down from $5.00) on shares of Lavoro in a research report on Wednesday, May 14th.

Lavoro Stock Performance

Shares of Lavoro stock opened at $2.19 on Monday. The company has a market cap of $255.38 million, a PE ratio of -1.34 and a beta of 0.55. Lavoro has a 52 week low of $1.94 and a 52 week high of $5.80. The business has a 50 day moving average price of $2.62 and a 200-day moving average price of $3.64. The company has a quick ratio of 0.66, a current ratio of 0.95 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Lavoro

A hedge fund recently bought a new stake in Lavoro stock. Citadel Advisors LLC acquired a new stake in shares of Lavoro Limited (NASDAQ:LVRO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,069 shares of the company’s stock, valued at approximately $48,000. 2.47% of the stock is currently owned by institutional investors and hedge funds.

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.