StockNews.com Initiates Coverage on Origin Agritech (NASDAQ:SEED)

Equities researchers at StockNews.com initiated coverage on shares of Origin Agritech (NASDAQ:SEED) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Origin Agritech Stock Down 5.2 %

Shares of NASDAQ SEED opened at $2.53 on Thursday. Origin Agritech has a 12 month low of $1.37 and a 12 month high of $6.38. The firm’s 50 day simple moving average is $2.77 and its 200-day simple moving average is $3.41.

Institutional Investors Weigh In On Origin Agritech

A hedge fund recently bought a new stake in Origin Agritech stock. Legacy Advisors LLC bought a new stake in shares of Origin Agritech Limited (NASDAQ:SEED) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 41,542 shares of the biotechnology company’s stock, valued at approximately $199,000. Legacy Advisors LLC owned approximately 0.66% of Origin Agritech at the end of the most recent reporting period. 1.70% of the stock is currently owned by institutional investors.

About Origin Agritech

Origin Agritech Limited, together with its subsidiaries, operates as an agricultural biotechnology in the People’s Republic of China. The company engages in the development and distribution of seed products; and research on genetically enhanced breeding technologies in agricultural crops. Its products include corn, soybean, canola, and rice seeds.