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

Evogene Ltd. (NASDAQ:EVGN) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.12 and traded as low as $1.12. Evogene shares last traded at $1.12, with a volume of 23,987 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Evogene in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Evogene Price Performance

The company has a fifty day moving average price of $1.12 and a two-hundred day moving average price of $1.22. The company has a market capitalization of $6.01 million, a P/E ratio of -2.24 and a beta of 1.28.

Evogene (NASDAQ:EVGN) last posted its earnings results on Thursday, November 20th. The biotechnology company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.10. Evogene had a negative net margin of 52.33% and a negative return on equity of 75.09%. The business had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.65 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Evogene stock. Jane Street Group LLC raised its position in Evogene Ltd. (NASDAQ:EVGN) by 58.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 33,732 shares of the biotechnology company’s stock after purchasing an additional 12,387 shares during the period. Jane Street Group LLC owned 0.63% of Evogene worth $42,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 10.40% of the company’s stock.

About Evogene

Evogene Ltd. is a biotechnology company specializing in the use of computational and predictive biology technologies to design and develop novel products for agriculture and human health. Founded in 2002 and headquartered in Rehovot, Israel, the company has built a proprietary computational platform that integrates genomics, machine learning and data analytics to identify gene targets and biological traits. Evogene’s platform serves as the backbone for its research and development efforts, enabling the discovery of enhanced crop traits, microbial solutions and microbiome-based diagnostics and therapeutics.

In the agricultural sector, Evogene applies its platform to improve crop performance across a range of parameters, including yield enhancement, stress tolerance and resistance to pests and pathogens.