NeoGenomics Inc. (NEO) Short Interest Up 59.9% in September
NeoGenomics Inc. (NASDAQ:NEO) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 5,757,216 shares, a growth of 59.9% from the August 31st total of 3,600,480 shares. Approximately 10.2% of the shares of the company are short sold. Based on an average trading volume of 221,380 shares, the short-interest ratio is presently 26.0 days.
NeoGenomics (NASDAQ:NEO) opened at 8.22 on Friday. NeoGenomics has a 12-month low of $5.49 and a 12-month high of $9.54. The firm’s 50-day moving average price is $8.10 and its 200-day moving average price is $8.05. The stock’s market cap is $640.28 million.
NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, July 26th. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. The business earned $63.10 million during the quarter, compared to analyst estimates of $61.07 million. NeoGenomics had a positive return on equity of 3.18% and a negative net margin of 3.76%. NeoGenomics’s revenue was up 159.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. On average, equities analysts predict that NeoGenomics will post $0.13 EPS for the current fiscal year.
In related news, insider Maher Albitar sold 60,075 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $8.23, for a total value of $494,417.25. Following the sale, the insider now directly owns 165,375 shares in the company, valued at approximately $1,361,036.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Royce & Associates LP raised its stake in shares of NeoGenomics by 278.4% in the first quarter. Royce & Associates LP now owns 473,000 shares of the company’s stock worth $3,188,000 after buying an additional 348,000 shares during the period. State Street Corp raised its stake in shares of NeoGenomics by 0.9% in the first quarter. State Street Corp now owns 777,559 shares of the company’s stock worth $5,241,000 after buying an additional 7,266 shares during the period. Uniplan Investment Counsel Inc. raised its stake in shares of NeoGenomics by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 821,860 shares of the company’s stock worth $5,539,000 after buying an additional 2,710 shares during the period. Nicholas Investment Partners LP raised its stake in shares of NeoGenomics by 45.3% in the first quarter. Nicholas Investment Partners LP now owns 303,810 shares of the company’s stock worth $2,048,000 after buying an additional 94,665 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of NeoGenomics by 3.8% in the first quarter. Geode Capital Management LLC now owns 355,158 shares of the company’s stock worth $2,393,000 after buying an additional 13,052 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on NEO shares. Benchmark Co. boosted their price objective on NeoGenomics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded NeoGenomics from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research note on Friday, August 5th. Craig Hallum restated a “buy” rating on shares of NeoGenomics in a research note on Saturday, July 9th. BTIG Research restated a “buy” rating and issued a $10.00 price objective on shares of NeoGenomics in a research note on Friday, July 8th. Finally, Raymond James Financial Inc. started coverage on NeoGenomics in a research note on Thursday, September 8th. They issued an “outperform” rating and a $10.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. NeoGenomics currently has an average rating of “Buy” and a consensus price target of $10.32.
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