Evogene (NASDAQ:EVGN) Shares Pass Below 200-Day Moving Average – Time to Sell?

Evogene Ltd. (NASDAQ:EVGN) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.87 and traded as low as $1.36. Evogene shares last traded at $1.38, with a volume of 35,602 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of Evogene in a report on Friday, March 7th. StockNews.com started coverage on shares of Evogene in a research note on Wednesday. They set a “sell” rating for the company.

Evogene Stock Performance

The firm has a market cap of $7.24 million, a PE ratio of -0.30 and a beta of 1.28. The firm has a fifty day simple moving average of $1.49 and a two-hundred day simple moving average of $1.87.

Evogene (NASDAQ:EVGN) last released its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.72) by $0.78. The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $3.63 million. Evogene had a negative net margin of 314.43% and a negative return on equity of 109.05%. During the same quarter last year, the business earned ($1.30) earnings per share.

Institutional Investors Weigh In On Evogene

An institutional investor recently bought a new position in Evogene stock. Citadel Advisors LLC purchased a new position in Evogene Ltd. (NASDAQ:EVGN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,891 shares of the biotechnology company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned about 0.30% of Evogene as of its most recent SEC filing. 10.40% of the stock is owned by hedge funds and other institutional investors.

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.