NeoGenomics (NASDAQ:NEO) Stock Passes Below 200 Day Moving Average – Here’s What Happened

NeoGenomics, Inc. (NASDAQ:NEO)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.28 and traded as low as $10.03. NeoGenomics shares last traded at $10.44, with a volume of 1,205,286 shares changing hands.

Analyst Upgrades and Downgrades

NEO has been the subject of several analyst reports. Needham & Company LLC raised their target price on shares of NeoGenomics from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Benchmark raised shares of NeoGenomics from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, April 29th. TD Cowen raised their target price on shares of NeoGenomics from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings cut shares of NeoGenomics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 21st. Finally, Zacks Research cut shares of NeoGenomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.86.

NeoGenomics Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 4.42 and a quick ratio of 4.06. The stock’s 50-day simple moving average is $8.48 and its 200 day simple moving average is $10.28. The stock has a market capitalization of $1.36 billion, a P/E ratio of -13.56 and a beta of 1.82.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. NeoGenomics had a negative return on equity of 2.80% and a negative net margin of 13.30%.The company had revenue of $186.67 million during the quarter, compared to the consensus estimate of $184.54 million. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts expect that NeoGenomics, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd lifted its holdings in shares of NeoGenomics by 42.5% during the third quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company’s stock worth $26,000 after buying an additional 997 shares in the last quarter. First Horizon Corp lifted its holdings in shares of NeoGenomics by 52.6% during the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company’s stock worth $30,000 after buying an additional 865 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of NeoGenomics during the second quarter worth $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company’s stock worth $35,000 after buying an additional 1,556 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of NeoGenomics during the fourth quarter worth $39,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company’s core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.