Evergreen (NASDAQ:EVGR) Trading Down 1% – Time to Sell?

Evergreen Co. (NASDAQ:EVGR) was down 1% during trading on Thursday . The company traded as low as $11.95 and last traded at $11.97. Approximately 4,449 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 20,023 shares. The stock had previously closed at $12.09.

Evergreen Price Performance

The stock has a market capitalization of $96.57 million and a PE ratio of 42.74. The company’s 50 day moving average price is $11.93 and its two-hundred day moving average price is $11.78.

Institutional Investors Weigh In On Evergreen

A number of large investors have recently made changes to their positions in EVGR. Quarry LP acquired a new stake in shares of Evergreen in the 3rd quarter worth $1,734,000. Harraden Circle Investments LLC acquired a new stake in Evergreen during the fourth quarter worth about $2,376,000. Westchester Capital Management LLC purchased a new position in Evergreen during the third quarter worth about $2,920,000. Toronto Dominion Bank acquired a new position in Evergreen in the 4th quarter valued at about $4,134,000. Finally, Mizuho Securities USA LLC increased its holdings in shares of Evergreen by 0.8% during the 4th quarter. Mizuho Securities USA LLC now owns 418,896 shares of the company’s stock worth $4,943,000 after buying an additional 3,496 shares during the last quarter. 69.26% of the stock is currently owned by hedge funds and other institutional investors.

About Evergreen

Evergreen Corporation is a blank check company. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Kuala Lumpur, Malaysia.