SVB Leerink maintained its NeoGenomics [NEO] rating to the equivalent of Outperform but changed the price target to $60.0 from $50, in a research note dated 2021-01-08. That figure represents around a 12.11% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Needham’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in late October. Meanwhile, Morgan Stanley had launched its coverage on NEO with “an Overweight”, in a research note produced for clients September 09, 2020. In addition, Guggenheim launched coverage on August 28, 2020. The research firm rated NEO “a Buy”.
Is NeoGenomics Inc. [NASDAQ:NEO] a Good Buy Right Now?
It should be noted that NEO technical indicators for short, intermediate as well as long term progress have placed an overall average of 96% as Buy. The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past month. Data from NeoGenomics Inc.’s Trend Spotter indicated that the signals were Bullish. The stock current average is 0.98 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.77 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.71 million shares.
NEO Price Performance
On Wall Street, NeoGenomics Inc. [NASDAQ:NEO] finished Thursday’s session up 4.23% at $53.52. The stock went up to $54.42 at the same session while its lowest single day price was $52.01. In the last five days, it saw a fall of about -1.20%, NeoGenomics Inc. shares dropped by almost -0.59% since the beginning of the year. However, the share price has dropped to as low as -6.22% below its one year high. On 01/05/21, the company shares recorded $55.83, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $48.88. The company’s shares have inclined by 83.10% in the past year. The 50-day SMA achieved is $47.48 while the 200-day SMA is $36.83. Volume gained to 3.89 million from 3.58 million in the previous session.
NEO Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 52.21 level, and in case of violation of this particular level, it will cause more drop to 50.91 level. On the upper level, 55.73 is still the key resistance. The stock may increase to the subsequent resistance at 54.62. The Relative Strength Index (RSI) pinned on the 14-day chart is 56.53, implying a neutral technical stance while the MACD stands at -0.96, meaning price will decrease in the next trading period. Percent R indicator moved to 43.35%, implying low price movement. Stochastic %K at 49.28% suggest selling the stock.
What is the short interest in NeoGenomics Inc.?
Short interest in the NeoGenomics Inc. stock has plunged, decreasing by -0.27 million shares to total 4.71 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.44 million, data from Yahoo Finance shows. The increase of 5.73% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.90% of the overall float for the stock.
NeoGenomics Inc.’s Biggest Shareholders: Who Owns NeoGenomics Inc. [NEO]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 14,935,465 shares or roughly 13.45% of the outstanding NEO shares. This means their shares have reduced by -353,027 from the 14,935,465 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $502,595,200. Details in the latest 13F filings reveal that Artisan Partners LP disposed off their -4.35% stake valued at $219,370,588 while Brown Advisory LLC added theirs at $179,497,834. During the last quarter, Artisan Partners LP liquidated -209,735 of its shares in NeoGenomics Inc. while Brown Advisory LLC bought 64,095 shares. The Invesco Advisers, Inc.’s holdings currently number 3,726,639 shares at $199449719.28. According to the firm’s last 13F report, Kopp Family Office LLC shares in the company at filing stood at 3,233,015 shares, roughly $153,826,854.
NEO Earnings Forecast For The Current Quarter
NeoGenomics Inc. [NEO] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $124.24M and an earnings per share of $0.06 for Dec 2020. Looking further ahead, the company is expected to report revenue of $123.06M at an EPS of $0.06 for Mar 2021. The estimates represent upside of 18.60% and 325.35% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
NEO Earnings Estimates For The Current Year
For the financial year, NeoGenomics Inc. [NASDAQ:NEO] is expected to bring in revenue of $442.53M. The returns are nearly $33.7 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.07, lower than that of FY19 by -$0.24. Estimates put this year’s earnings growth at -77.40%, 328.60% for the next, and at an annual 20.00% over the next 5-year period. As for sales, forecasts are for an increase of 8.20% in the current fiscal year and a further 18.60% over the following year.