Evogene (NASDAQ:EVGN) Stock Passes Below 200 Day Moving Average – Time to Sell?

Evogene Ltd. (NASDAQ:EVGN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.50 and traded as low as $1.43. Evogene shares last traded at $1.45, with a volume of 22,169 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Evogene in a report on Thursday. They issued a “sell” rating on the stock.

Evogene Stock Down 1.7 %

The company has a market capitalization of $7.75 million, a PE ratio of -0.32 and a beta of 1.29. The business has a 50 day simple moving average of $1.58 and a 200 day simple moving average of $2.50.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings data on Thursday, November 21st. The biotechnology company reported ($1.31) EPS for the quarter. Evogene had a negative net margin of 314.43% and a negative return on equity of 109.05%.

Institutional Investors Weigh In On Evogene

A hedge fund recently bought a new stake in Evogene stock. Renaissance Investment Group LLC purchased a new position in shares of Evogene Ltd. (NASDAQ:EVGN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the biotechnology company’s stock, valued at approximately $31,000. 10.40% of the stock is currently owned by institutional investors and hedge funds.

Evogene Company Profile

Evogene Ltd., together with its subsidiaries, operates as a computational biology company. It focuses on product discovery and development in life-science based industries, including human health and agriculture, through the use of its Computational Predictive Biology (CPB) platform. The company operates through three segments: Agriculture, Human Health, and Industrial Applications.