If You Don’t Invest In NeoGenomics Inc. (NASDAQ: NEO) Now, You’ll Regret It Later.

   2022-06-22 11:06

The trading price of NeoGenomics Inc. (NASDAQ:NEO) closed lower on Tuesday, June 21, closing at $7.49, -0.79% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $7.46 and $7.83. In examining the 52-week price action we see that the stock hit a 52-week high of $54.74 and a 52-week low of $6.85. Over the past month, the stock has lost -14.01% in value.

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NeoGenomics Inc., whose market valuation is $873.78 million at the time of this writing, is expected to release its quarterly earnings report Feb 22, 2022 – Feb 28, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.22 per share this quarter, however they have predicted annual earnings per share of -$0.79 for 2022 and -$0.54 for 2023. It means analysts are expecting annual earnings per share growth of -192.60% this year and 31.60% next year.

Analysts have forecast the company to bring in revenue of $124.84 million for the current quarter, with the likely lows of $121.5 million and highs of $132.3 million. The average estimate suggests sales will likely up by 2.60% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $503.07 million. The company’s revenue is forecast to grow by 3.90% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of NeoGenomics Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest NEO has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

A quick review shows that NEO’s price is currently -6.79% off the SMA20 and -21.17% off the SMA50. The RSI metric on the 14-day chart is currently showing 41.68, and weekly volatility stands at 6.22%. When measured over the past 30 days, the indicator reaches 7.45%. NeoGenomics Inc. (NASDAQ:NEO)’s beta value is currently sitting at 0.93, while the Average True Range indicator is currently displaying 0.66. With analysts defining $12.00-$26.00 as the low and high price targets, we arrive at a consensus price target of $18.33 for the trailing 12-month period. The current price is about -60.21% off the estimated low and -247.13% off the forecast high, based on this estimate. Investors will be thrilled if NEO’s share price rises to $19.00, which is the median consensus price. At that level, NEO’s share price would be -153.67% below current price.

To see how NeoGenomics Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: NEO stock’s performance was -0.79% in the latest trading, and -82.97% in the past year, while Quest Diagnostics Incorporated (DGX) has traded 0.99% on the day and positioned 1.93% higher than it was a year ago. Another comparable company RadNet Inc. (RDNT) saw its stock close 1.91% higher in the most recent trading session but was down -49.69% in a year. Furthermore, Laboratory Corporation of America Holdings (LH) showed an increase of 1.47% on the day while its price kept declining at -13.49% over the past year. Also in last trading session, the S&P 500 Index has surged 2.45%, while the Dow Jones Industrial also saw a positive session, up 2.15% on the day.

An evaluation of the daily trading volume of NeoGenomics Inc. (NASDAQ:NEO) indicates that the 3-month average is 2.62 million. However, this figure has increased over the past 10 days to an average of 1.95 million.

Currently, records show that 123.63 million of the company’s shares remain outstanding. The insiders hold 1.50% of outstanding shares, whereas institutions hold 91.90%. The stats also highlight that short interest as of Apr 28, 2022, stood at 5.51 million shares, resulting in a short ratio of 1.47 at that time. From this, we can conclude that short interest is 4.44% of the company’s total outstanding shares. It is noteworthy that short shares in April were up slightly from the previous month’s figure, which was 5.22 million. However, since the stock’s price has seen -78.05% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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