Uncovering Institutional Buying In Evogene Ltd. (NASDAQ: EVGN)


    With over 3.5 million Evogene Ltd. (EVGN) shares trading Tuesday and a closing price of $2.74 on the day, the dollar volume was approximately $9.59 million. The shares have shown a positive weekly performance of 65.06% and its price on 09/01/20 gained nearly 32.37%. Currently, there are 25.75M common shares owned by the public and among those 22.49M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for EVGN have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Evogene Ltd. stock is 3.00 for the next 12 months. But an upside of 65.75% will see the stock hit the forecast high price target while mean target price for the stock is $8.00.

    The top 3 mutual fund holders in Evogene Ltd. are Ivy Funds – Science & Technology, ARK Genomic Revolution ETF, and More TA Mid Cap (4B). Ivy Funds – Science & Technology owns 2.62 million shares of the company’s stock, all valued at over $2.7 million. ARK Genomic Revolution ETF bought 1564.0 shares to see its total holdings expand to 0.48 million shares valued at over $0.49 million and representing 1.86% of the shares outstanding. More TA Mid Cap (4B) now owns shares totaling to 1.21% of the shares outstanding.

    Shares of Evogene Ltd. (NASDAQ: EVGN) opened at $2.09, up $0.02 from a prior closing price of $2.07. However, the script later closed the day at $2.74, up 32.37%. The company’s stock has a 5-day price change of 65.06% and 115.75% over the past three months. EVGN shares are trading 80.26% year to date (YTD), with the 12-month market performance up to 77.92% higher. It has a 12-month low price of $0.75 and touched a high of $2.15 over the same period. Currently, 3.5 million shares have been traded, compared to an average intraday trading volume of 215.31K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 93.43%, 127.69%, and 117.46% respectively.

    Institutional ownership of Evogene Ltd. (NASDAQ: EVGN) shares accounts for 28.38% of the company’s 25.75M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.

    It has a market capitalization of $70.57M. The earnings-per-share (ttm) stands at -$0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.43% over the week and 11.23% over the month.

    Analysts forecast that Evogene Ltd. (EVGN) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2019. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.19 a year ago.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Evogene Ltd. (EVGN) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the EVGN, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on December 16, 2013, with the firm’s price target at $26.


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