Origin Agritech Limited (NASDAQ:SEED) Sees Large Drop in Short Interest

Origin Agritech Limited (NASDAQ:SEED) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 33,522 shares, a decrease of 42.6% from the April 30th total of 58,371 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 24,687 shares, the days-to-cover ratio is presently 1.4 days.

Origin Agritech Price Performance

Shares of NASDAQ SEED remained flat at $1.12 during midday trading on Tuesday. 55,720 shares of the company traded hands, compared to its average volume of 19,123. Origin Agritech has a 12-month low of $0.74 and a 12-month high of $2.49. The firm has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $1.23.

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

Hedge Funds Weigh In On Origin Agritech

An institutional investor recently bought a new position in Origin Agritech stock. Legacy Advisors LLC bought a new position in shares of Origin Agritech Limited (NASDAQ:SEED) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,542 shares of the biotechnology company’s stock, valued at approximately $50,000. Legacy Advisors LLC owned approximately 0.58% of Origin Agritech as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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