Evogene Ltd. (NASDAQ:EVGN) Sees Significant Growth in Short Interest

Evogene Ltd. (NASDAQ:EVGN) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 24,400 shares, an increase of 5.6% from the August 15th total of 23,100 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average trading volume of 22,300 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On Evogene

A hedge fund recently raised its stake in Evogene stock. BNP Paribas Financial Markets raised its holdings in Evogene Ltd. (NASDAQ:EVGN) by 30.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,400 shares of the biotechnology company’s stock after buying 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. 10.40% of the stock is currently owned by hedge funds and other institutional investors.

Evogene Trading Down 0.4 %

EVGN traded down $0.01 on Thursday, hitting $2.73. 1,742 shares of the company were exchanged, compared to its average volume of 17,043. The company has a market cap of $112.52 million, a price-to-earnings ratio of -5.96 and a beta of 1.40. The firm has a 50-day moving average price of $4.16 and a two-hundred day moving average price of $6.15. Evogene has a twelve month low of $2.72 and a twelve month high of $10.40.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Lake Street Capital reduced their price target on shares of Evogene from $30.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. StockNews.com began coverage on shares of Evogene in a research note on Sunday. They set a “sell” rating on the 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.