Evogene (NASDAQ:EVGN) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Evogene Ltd. (NASDAQ:EVGN)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.56 and traded as low as $2.66. Evogene shares last traded at $2.77, with a volume of 19,837 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com initiated coverage on Evogene in a research report on Wednesday. They issued a “sell” rating for the company. Lake Street Capital lowered their price objective on shares of Evogene from $30.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 23rd.

Evogene Stock Down 1.1 %

The company has a fifty day moving average price of $3.40 and a 200 day moving average price of $5.56. The stock has a market cap of $114.17 million, a PE ratio of -6.02 and a beta of 1.40.

Evogene (NASDAQ:EVGN) last announced its quarterly earnings results on Thursday, August 22nd. The biotechnology company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.94). The company had revenue of $0.91 million during the quarter. Evogene had a negative return on equity of 72.33% and a negative net margin of 210.26%.

Institutional Investors Weigh In On Evogene

An institutional investor recently raised its position in Evogene stock. BNP Paribas Financial Markets grew its position in shares of Evogene Ltd. (NASDAQ:EVGN) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,400 shares of the biotechnology company’s stock after acquiring an additional 21,500 shares during the period. BNP Paribas Financial Markets owned about 0.22% of Evogene worth $69,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.40% of the company’s stock.

About Evogene

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.