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

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

Origin Agritech Stock Performance

Shares of SEED stock opened at $2.32 on Friday. The business has a 50-day moving average of $2.68 and a 200 day moving average of $3.27. Origin Agritech has a 1-year low of $1.37 and a 1-year high of $6.38.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Origin Agritech stock. Legacy Advisors LLC purchased a new position in Origin Agritech Limited (NASDAQ:SEED) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 41,542 shares of the biotechnology company’s stock, valued at approximately $199,000. Legacy Advisors LLC owned about 0.66% of Origin Agritech as of its most recent SEC filing. Institutional investors and hedge funds own 1.70% of the company’s stock.

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.