In Thursday’s session, NeoGenomics Inc. (NASDAQ:NEO) marked $9.02 per share, down from $9.26 in the previous session. While NeoGenomics Inc. has underperformed by -2.59%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NEO fell by -82.00%, with highs and lows ranging from $54.74 to $6.85, whereas the simple moving average fell by -41.82% in the last 200 days.
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On August 26, 2022, The Benchmark Company Downgraded NeoGenomics Inc. (NASDAQ: NEO) to Hold. A report published by Needham on August 22, 2022, Downgraded its rating to ‘Hold’ for NEO. Piper Sandler also rated NEO shares as ‘Overweight’, setting a target price of $13 on the company’s shares in an initiating report dated June 03, 2022. Stephens March 29, 2022d the rating to Equal-Weight on March 29, 2022, and set its price target from $34 to $16. BofA Securities March 29, 2022d its ‘Buy’ rating to ‘Neutral’ for NEO, as published in its report on March 29, 2022. Stephens’s report from January 18, 2022 suggests a price prediction of $40 for NEO shares, giving the stock a ‘Overweight’ rating. Cowen also rated the stock as ‘Outperform’.
Analysis of NeoGenomics Inc. (NEO)
Further, the quarter-over-quarter increase in sales is 2.80%, showing a positive trend in the upcoming months.
NeoGenomics Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -13.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 7.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and NEO has an average volume of 1.68M. On a monthly basis, the volatility of the stock is set at 5.31%, whereas on a weekly basis, it is put at 5.47%, with a loss of -14.58% over the past seven days. Furthermore, long-term investors anticipate a median target price of $18.00, showing growth from the present price of $9.02, which can serve as yet another indication of whether NEO is worth investing in or should be passed over.
How Do You Analyze NeoGenomics Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 95.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in NEO shares?
The recent increase in stakes in NEO appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in NEO has increased by 7.01% in the first quarter. The company now owns 19,136,110 shares of the stock, with a value of $192.32 million, following the purchase of 1,252,780 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in NEO during the first quarter, upping its stake by 3.62%. During the last quarter, the company dropped down 458,896 additional shares for a total stake of worth $131.87 million, bringing number of shares owned by the company to 13,121,341.
During the first quarter, Wellington Management Co. LLP subtracted a -3,541,974 position in NEO. Brown Advisory LLC purchased an additional 0.99 million shares in the last quarter, increasing its holdings by 21.66%, now holding 5.57 million shares worth $55.95 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its NEO holdings by 3.57% and now holds 4.1 million NEO shares valued at $41.21 million with the added 0.14 million shares during the period. NEO shares are owned by institutional investors to the tune of 95.60% at present.