Taking a look at what insiders are doing to gauge the Neogen Corporation (NEOG)’s direction

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Neogen Corporation shares valued at $24,013 were purchased by Vetter Darci L on Aug 16. At $21.83 per share, Vetter Darci L acquired 1,100 shares. The insider’s holdings grew to 1,384 shares worth approximately $20856.88 following the completion of this transaction.

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Also, Green Ronald D purchased 1,500 shares, netting a total of over 33,750 in proceeds. Following the buying of shares at $22.50 each, the insider now holds 10,694 shares.

Before that, ADENT JOHN EDWARD had added 17,500 shares to its account. In a trade valued at $403,725, the President & CEO bought Neogen Corporation shares for $23.07 each. Upon closing the transaction, the insider’s holdings increased to 17,500 shares, worth approximately $0.88 million.

As published in their initiating research note from Piper Sandler on July 12, 2022, Neogen Corporation [NEOG] has been a Neutral and the price target has been revised to $25. This represents a 39.72% premium over Wednesday’s closing price. Analysts at Guggenheim started covering the stock with ‘”a Neutral”‘ outlook in a report released in late May. Earlier on July 14, 2017, CL King initiated its rating. Their recommendation was “a Neutral” for NEOG stock.

Analyzing NEOG’s Price Performance

On Wednesday, Neogen Corporation [NASDAQ: NEOG] plunged -1.44% to $15.07. The stock’s lowest price that day was $15.05, but it reached a high of $15.67 in the same session. During the last five days, there has been a drop of approximately -6.46%. Over the course of the year, Neogen Corporation shares have dropped approximately -66.81%. Shares of the company reached a 52-week high of $45.60 on 01/03/22 and a 52-week low of $15.05 on 09/21/22. A 50-day SMA is recorded $20.44, while a 200-day SMA reached $29.53. Nevertheless, trading volume fell to 3.6 million shares from 3.81 million shares the previous day.

Support And Resistance Levels for Neogen Corporation (NEOG)

According to the 24-hour chart, there is a support level at 14.86, which, if violated, would cause prices to drop to 14.64. In the upper region, resistance lies at 15.48. The next price resistance is at 15.88. RSI (Relative Strength Index) is 22.69 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.55, which suggests the price will decrease in the coming days. Percent R is at 99.62%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Neogen Corporation subject to short interest?

Stocks of Neogen Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.37 million shares to 7.18 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.81 million shares. A jump of 19.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.17.

Which companies own the most shares of Neogen Corporation (NEOG)?

According to Wasatch Advisors, Inc. filings, the company currently owns 10,948,448 shares, which is about 10.15% of the total NEOG shares outstanding. The investor’s shares have appreciated by 4,154,220 from its previous 13-F filing of 6794228.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $224,621,956. The Vanguard Group, Inc. reduced a -0.71% interest valued at $211.41 million while Brown Capital Management LLC sold a -1,658,006 stake. A total of 1,853,899 shares of Neogen Corporation were sold by Select Equity Group LP during the quarter, and 580,088 were bought by Conestoga Capital Advisors LLC. In its current portfolio, Fred Alger Management LLC holds 3,900,825 shares valued at $81.53 million.

In terms of Neogen Corporation share price expectations, FactSet research, analysts set an average price target of $20.00 in the next 12 months, up nearly 30.8% from the previous closing price of $15.29. Analysts anticipate Neogen Corporation stock to reach $20.00 by 2022, with the lowest price target being $20.00. In spite of this, 2 analysts ranked Neogen Corporation stock as a Hold at the end of 2022.


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