Neogenomics Inc (NASDAQ: NEO)’s stock price has increased by 4.27 compared to its previous closing price of 13.59. However, the company has seen a 8.42% increase in its stock price over the last five trading sessions. globenewswire.com reported 2024-10-29 that TORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) — NEO Battery Materials Ltd. (“NEO” or the “C o mpan y”) (T S X V : NBM) (OTC: NBMFF), a low-cost silicon anode materials developer that enables longer-running, rapid-charging lithium-ion batteries, is pleased to announce that the Company has entered into a non-binding letter of intent (the “LOI”) on September 6, 2024, with a Canadian municipality to lease approximately 8 acres of land for the construction and operation of NEO’s planned commercial manufacturing facility. The municipality and detailed terms will remain confidential until a definitive or formal agreement is reached. There are no material terms or considerations with respect to the LOI.
Is It Worth Investing in Neogenomics Inc (NASDAQ: NEO) Right Now?
The stock has a 36-month beta value of 1.18. Opinions on the stock are mixed, with 6 analysts rating it as a “buy,” 4 as “overweight,” 4 as “hold,” and 0 as “sell.”
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The public float for NEO is 126.56M, and at present, short sellers hold a 3.66% of that float. On November 01, 2024, the average trading volume of NEO was 695.13K shares.
NEO’s Market Performance
The stock of Neogenomics Inc (NEO) has seen a 8.42% increase in the past week, with a 0.35% rise in the past month, and a -12.58% fall in the past quarter. The volatility ratio for the week is 2.86%, and the volatility levels for the past 30 days are at 3.38% for NEO. The simple moving average for the past 20 days is 5.04% for NEO’s stock, with a -4.67% simple moving average for the past 200 days.
Analysts’ Opinion of NEO
Many brokerage firms have already submitted their reports for NEO stocks, with Craig Hallum repeating the rating for NEO by listing it as a “Buy.” The predicted price for NEO in the upcoming period, according to Craig Hallum is $26 based on the research report published on May 01, 2024 of the current year 2024.
BTIG Research, on the other hand, stated in their research note that they expect to see NEO reach a price target of $21, previously predicting the price at $25. The rating they have provided for NEO stocks is “Buy” according to the report published on December 29th, 2023.
Stephens gave a rating of “Overweight” to NEO, setting the target price at $18 in the report published on August 21st of the previous year.
NEO Trading at -4.28% from the 50-Day Moving Average
After a stumble in the market that brought NEO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -33.22% of loss for the given period.
Volatility was left at 3.38%, however, over the last 30 days, the volatility rate increased by 2.86%, as shares surge +2.30% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -11.98% lower at present.
During the last 5 trading sessions, NEO rose by +9.10%, which changed the moving average for the period of 200-days by -8.18% in comparison to the 20-day moving average, which settled at $13.49. In addition, Neogenomics Inc saw -12.42% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NEO starting from Olivo Alicia C, who sale 1,040 shares at the price of $16.05 back on Aug 15 ’24. After this action, Olivo Alicia C now owns 43,813 shares of Neogenomics Inc, valued at $16,695 using the latest closing price.
ALICIA OLIVO, the Officer of Neogenomics Inc, proposed sale 1,040 shares at $15.82 during a trade that took place back on Aug 15 ’24, which means that ALICIA OLIVO is holding shares at $16,453 based on the most recent closing price.
Stock Fundamentals for NEO
Current profitability levels for the company are sitting at:
- -0.15 for the present operating margin
- 0.42 for the gross margin
The net margin for Neogenomics Inc stands at -0.13. The total capital return value is set at -0.07. Equity return is now at value -8.39, with -4.71 for asset returns.
Based on Neogenomics Inc (NEO), the company’s capital structure generated 0.37 points at debt to capital in total, while cash flow to debt ratio is standing at 0.0. The debt to equity ratio resting at 0.59. The interest coverage ratio of the stock is -41.67.
Currently, EBITDA for the company is -6.52 million with net debt to EBITDA at -47.01. When we switch over and look at the enterprise to sales, we see a ratio of 3.28. The receivables turnover for the company is 4.24for trailing twelve months and the total asset turnover is 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.01.
Conclusion
To sum up, Neogenomics Inc (NEO) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
