Evogene (NASDAQ:EVGN) Stock Crosses Below 200 Day Moving Average – Here’s Why

Evogene Ltd. (NASDAQ:EVGN) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

EVGN has been the subject of a number of research analyst reports. StockNews.com assumed coverage on Evogene in a research note on Wednesday. They set a “sell” rating for the company. Alliance Global Partners reiterated a “buy” rating on shares of Evogene in a research report on Friday, March 7th.

Evogene Stock Performance

The stock’s 50 day simple moving average is $1.49 and its 200 day simple moving average is $1.87. The firm has a market capitalization of $7.24 million, a P/E ratio of -0.30 and a beta of 1.28.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Evogene stock. Citadel Advisors LLC purchased a new position in Evogene Ltd. (NASDAQ:EVGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,891 shares of the biotechnology company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned 0.30% of Evogene as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 10.40% of the company’s stock.

Evogene Company Profile

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.