StockNews.com Initiates Coverage on Origin Agritech (NASDAQ:SEED)

StockNews.com initiated coverage on shares of Origin Agritech (NASDAQ:SEED) in a report issued on Sunday. The brokerage issued a hold rating on the biotechnology company’s stock.

Origin Agritech Price Performance

SEED opened at $2.67 on Friday. Origin Agritech has a 12-month low of $1.37 and a 12-month high of $6.38. The business’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $3.63.

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 stake in Origin Agritech Limited (NASDAQ:SEED) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,542 shares of the biotechnology company’s stock, valued at approximately $199,000. Legacy Advisors LLC owned 0.66% of Origin Agritech at the end of the most recent reporting period. 1.70% of the stock is currently owned by hedge funds and other institutional investors.

Origin Agritech Company Profile

Origin Agritech Limited, together with its subsidiaries, operates as an agricultural biotechnology in the People’s Republic of China. The company engages in the development and distribution of seed products; and research on genetically enhanced breeding technologies in agricultural crops. Its products include corn, soybean, canola, and rice seeds.