As of Tuesday, NeoGenomics Inc.’s (NASDAQ:NEO) stock closed at $11.55, down from $11.94 the previous day. While NeoGenomics Inc. has underperformed by -3.27%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NEO fell by -46.50%, with highs and lows ranging from $23.78 to $6.00, whereas the simple moving average jumped by 20.02% 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 6.20%, showing a positive trend in the upcoming months.
One of the most important indicators of NeoGenomics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -15.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 6.80, 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.
For any stock, average volume can also provide valuable insight into volatility, and NEO is recording 1.23M average volume. On a monthly basis, the volatility of the stock is set at 6.14%, whereas on a weekly basis, it is put at 6.52%, with a loss of -0.43% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.78, showing growth from the present price of $11.55, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. 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 0.80%. 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 90.80% 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 0.49% in the first quarter. The company now owns 19,230,311 shares of the stock, with a value of $177.69 million, following the purchase of 94,201 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in NEO during the first quarter, downing its stake by -1.06%. During the last quarter, the company picked up -139,206 additional shares for a total stake of worth $119.95 million, bringing number of shares owned by the company to 12,982,135.
During the first quarter, Brown Advisory LLC added a 412,523 position in NEO. Janus Henderson Investors US LLC purchased an additional 4.92 million shares in the last quarter, increasing its holdings by 480.85%, now holding 5.94 million shares worth $54.86 million. At the end of the first quarter, SSgA Funds Management, Inc. increased its NEO holdings by 2.85% and now holds 4.22 million NEO shares valued at $38.97 million with the added 0.12 million shares during the period. NEO shares are owned by institutional investors to the tune of 90.80% at present.
