Neogen Corp. (NASDAQ:NEOG) shares, rose in value, with the stock price up by 1.92% to the previous day’s close as strong demand from buyers drove the stock to $14.35.
Actively observing the price movement in the last trading, the stock closed the session at $14.08. The PE ratio was 263.79 over 12-month period. Referring to stock’s 52-week performance, its high was $24.09, and the low was $13.94. On the whole, NEOG has fluctuated by -14.23% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.14, which is expected to increase to $0.17 for fiscal year $0.54 and then to about $0.72 by fiscal year 2025. Data indicates that the EPS growth is expected to be -3.60% in 2025, while the next year’s EPS growth is forecast to be 33.30%.
Analysts have estimated the company’s revenue for the quarter at $230.01 million, with a low estimate of $229.62 million and a high estimate of $230.4 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $938.15 million, representing an increase of 14.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that NEOG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 26.38, with the price of NEOG currently trading nearly -6.53% and -10.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.85, while the 7-day volatility ratio is showing 4.02% which for the 30-day chart, stands at 3.45%. Furthermore, Neogen Corp. (NEOG)’s beta value is 1.14, and its average true range (ATR) is 0.54.
A comparison of Neogen Corp. (NEOG) with its peers suggests the former has fared considerably weaker in the market. NEOG showed an intraday change of 1.92% in last session, and over the past year, it shrunk by -19.47%%.
Data on historical trading for Neogen Corp. (NASDAQ:NEOG) indicates that the trading volumes over the past 10 days have averaged 1.59 million and over the past 3 months, they’ve averaged 1.89 million. According to company’s latest data on outstanding shares, there are 216.52 million shares outstanding.
Nearly 0.13% of Neogen Corp.’s shares belong to company insiders and institutional investors own 107.53% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.22 million shares as on Mar 15, 2024, resulting in a short ratio of 12.58. According to the data, the short interest in Neogen Corp. (NEOG) stood at 7.49% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 14.74 million. The stock has fallen by -28.64% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NEOG stock heading into the next quarter.
