Evogene (NASDAQ:EVGN) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Evogene Ltd. (NASDAQ:EVGN)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.17 and traded as low as $2.31. Evogene shares last traded at $2.40, with a volume of 28,936 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Lake Street Capital cut their price target on Evogene from $30.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. StockNews.com started coverage on shares of Evogene in a research note on Friday. They set a “sell” rating on the stock.

Evogene Stock Performance

The company’s 50-day moving average price is $2.93 and its 200-day moving average price is $5.14. The firm has a market capitalization of $101.39 million, a PE ratio of -5.28 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.94). The business had revenue of $0.91 million for the quarter. Evogene had a negative return on equity of 72.33% and a negative net margin of 210.26%.

Hedge Funds Weigh In On Evogene

A hedge fund recently bought a new stake in Evogene stock. Renaissance Investment Group LLC acquired a new position in shares of Evogene Ltd. (NASDAQ:EVGN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,000 shares of the biotechnology company’s stock, valued at approximately $31,000. 10.40% of the stock is owned by institutional investors and hedge funds.

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.