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

Evogene Ltd (NASDAQ:EVGN) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 27,400 shares, an increase of 14.6% from the July 31st total of 23,900 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 10,900 shares, the short-interest ratio is currently 2.5 days.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Senvest Management LLC increased its position in shares of Evogene by 201.1% during the second quarter. Senvest Management LLC now owns 414,682 shares of the biotechnology company’s stock valued at $668,000 after purchasing an additional 276,943 shares during the period. ARK Investment Management LLC increased its position in shares of Evogene by 13.7% during the first quarter. ARK Investment Management LLC now owns 286,748 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 34,626 shares during the period. Delek Group Ltd. increased its position in shares of Evogene by 4.2% during the first quarter. Delek Group Ltd. now owns 217,824 shares of the biotechnology company’s stock valued at $397,000 after purchasing an additional 8,717 shares during the period. Eidelman Virant Capital bought a new stake in shares of Evogene during the second quarter valued at approximately $102,000. Finally, Meitav Dash Investments Ltd. increased its position in shares of Evogene by 44.7% during the first quarter. Meitav Dash Investments Ltd. now owns 28,521 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 8,804 shares during the period. Institutional investors and hedge funds own 29.23% of the company’s stock.

Shares of EVGN traded down $0.02 on Friday, reaching $1.61. 7,340 shares of the stock traded hands, compared to its average volume of 10,281. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.14 and a current ratio of 10.14. Evogene has a 12 month low of $1.34 and a 12 month high of $3.32. The stock’s 50-day moving average price is $1.57 and its 200-day moving average price is $1.77.

Evogene (NASDAQ:EVGN) last released its quarterly earnings data on Wednesday, July 31st. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.35). The firm had revenue of $0.19 million for the quarter. Evogene had a negative net margin of 1,193.65% and a negative return on equity of 37.62%.

Separately, ValuEngine upgraded Evogene from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

About Evogene

Evogene Ltd., a biotechnology company, engages in developing various products for various life science markets through the use of computational predictive biology platform in the United States, Germany, and internationally. It discovers and develops products in various areas, including ag-chemicals, ag-biologicals, seed traits, integrated castor oil ag-solutions, and human microbiome-based therapeutics.

Further Reading: Straddles

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