NeoGenomics Inc. (NASDAQ:NEO) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 5,757,216 shares, an increase of 59.9% from the August 31st total of 3,600,480 shares. Based on an average daily volume of 221,380 shares, the days-to-cover ratio is presently 26.0 days. Approximately 10.2% of the company’s stock are short sold.
NeoGenomics (NASDAQ:NEO) opened at 8.22 on Wednesday. NeoGenomics has a 52 week low of $5.49 and a 52 week high of $9.54. The stock’s market cap is $640.28 million. The company’s 50-day moving average is $8.11 and its 200 day moving average is $8.10.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $63.10 million for the quarter, compared to the consensus estimate of $61.07 million. NeoGenomics had a negative net margin of 3.76% and a positive return on equity of 3.18%. The business’s quarterly revenue was up 159.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 EPS. On average, analysts expect that NeoGenomics will post $0.13 earnings per share for the current fiscal year.
In related news, insider Maher Albitar sold 105,300 shares of the business’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $8.20, for a total transaction of $863,460.00. Following the transaction, the insider now directly owns 105,300 shares in the company, valued at $863,460. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in NEO. Suntrust Banks Inc. bought a new stake in shares of NeoGenomics during the second quarter worth about $114,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of NeoGenomics by 29.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,300 shares of the company’s stock worth $123,000 after buying an additional 3,450 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of NeoGenomics by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,810 shares of the company’s stock worth $143,000 after buying an additional 190 shares during the last quarter. KCG Holdings Inc. bought a new stake in shares of NeoGenomics during the second quarter worth about $146,000. Finally, Trexquant Investment LP bought a new stake in shares of NeoGenomics during the second quarter worth about $166,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on NEO. First Analysis began coverage on shares of NeoGenomics in a research report on Monday. They issued an “overweight” rating and a $11.00 price target on the stock. Zacks Investment Research lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Raymond James Financial Inc. began coverage on shares of NeoGenomics in a research report on Thursday, September 8th. They issued an “outperform” rating and a $10.00 price target on the stock. Benchmark Co. boosted their price target on shares of NeoGenomics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Finally, BTIG Research lowered shares of NeoGenomics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 27th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. NeoGenomics has a consensus rating of “Buy” and an average price target of $10.41.
NeoGenomics Company Profile
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