This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Origin Agritech, Agria Jump on Volume Spike

Stocks in this article: SEED GRO

BEIJING ( TheStreet) -- Origin Agritech (SEED) and Agria (GRO) shares surged Monday on heavy volume after the former said it received Chinese commercial approval of its genetically modified phytase corn.

Origin Agritech said Saturday its product is the "world's first genetically modified phytase corn" to be cleared for sale after the company received the Bio-safety Certificate from China's Ministry of Agriculture as a final approval. This is the last of five separate stages that genetically modified seed products must undergo in China, the company said.

Phytase is currently used as an additive in animal feed to breakdown phytic acid in corn. Origin Agritech's product will eliminate the need for animal feed producers to mix the two ingredients together, saving time, machinery, and labor for the animal feed producers, Origin said.

Shares of Origin Agritech were jumping by $3.75, or 72%, to $8.96. Earlier in the session, the stock touched an intraday high of $9. More than 6.7 million shares changed hands by 10:30 a.m. EDT Monday, compared to the stock's 50-day average daily volume of 189,000, according to the Nasdaq.

Origin Agritech has a 10.2 million-share float with 140,000 shares short as of Oct. 30, according to Yahoo! Finance. Insiders hold only 3.3% of the company's shares, with another 24.4% owned by institutions.

Agria was among agriculture stocks following Origin's rise. Agria was climbing by 51 cents, or 15.2%, to $3.86. Earlier in the session, the stock touched an intraday high of $3.95. More than 850,000 shares changed hands by 10:30 a.m. EDT Monday, compared to the stock's three-month average daily volume of 292,000, according to Yahoo! Finance.

Agria has a 58.8 million-share float with 24,000 shares short as of Oct. 30, according to Yahoo! Finance. Insiders hold only 2.6% of the company's shares, with another 11.8% owned by institutions.

-- Written by Robert Holmes in New York.

Check out all of Monday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs