Origin Agritech Limited (NASDAQ:SEED) Sees Significant Decline in Short Interest

Origin Agritech Limited (NASDAQ:SEED) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 14,690 shares, a decline of 56.2% from the May 14th total of 33,522 shares. Based on an average daily trading volume, of 13,436 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.1% of the shares of the company are short sold.

Origin Agritech Price Performance

Shares of NASDAQ:SEED opened at $0.98 on Friday. The stock’s 50-day simple moving average is $1.18 and its two-hundred day simple moving average is $1.21. Origin Agritech has a 52-week low of $0.74 and a 52-week high of $2.49.

Origin Agritech (NASDAQ:SEED) last posted its quarterly earnings data on Thursday, May 21st. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $3.57 million for the quarter.

Hedge Funds Weigh In On Origin Agritech

A hedge fund recently bought a new stake in Origin Agritech stock. Legacy Advisors LLC purchased a new stake in shares of Origin Agritech Limited (NASDAQ:SEED) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 41,542 shares of the biotechnology company’s stock, valued at approximately $50,000. Legacy Advisors LLC owned 0.58% of Origin Agritech as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Origin Agritech in a report on Monday, May 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Origin Agritech Company Profile

Origin Agritech (NASDAQ:SEED) is an agricultural biotechnology company focused on the research, development, production and sale of hybrid rice seeds. The company’s core business activities center on the application of molecular marker‐assisted selection and genomics to develop high‐yielding, disease‐resistant and stress‐tolerant rice varieties. Its product portfolio includes proprietary cytoplasmic male sterile (CMS) lines, hybrid parent lines and commercial seed varieties tailored to the agronomic needs of rice growers.

Origin Agritech primarily serves the major rice‐producing provinces of China, where it has established breeding stations, seed production bases and a distribution network to supply certified hybrid seeds.