Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Neogen Corp. shares valued at $123,590 were purchased by Jones Douglas Edward on Apr 17 ’24. At $12.36 per share, Jones Douglas Edward acquired 10,000 shares. The insider’s holdings grew to 46,131 shares worth approximately $0.56 million following the completion of this transaction.
Also, BOREL JAMES C purchased 7,500 shares, netting a total of over 97,986 in proceeds. Following the buying of shares at $13.06 each, the insider now holds 21,392 shares.
Before that, ADENT JOHN EDWARD had added 23,000 shares to its account. In a trade valued at $284,190, the CEO bought Neogen Corp. shares for $12.36 each. Upon closing the transaction, the insider’s holdings increased to 23,000 shares, worth approximately $1.85 million.
As published in their initiating research note from Wells Fargo on June 16, 2023, Neogen Corp. [NEOG] has been an Overweight and the price target has been revised to $22. Analysts at William Blair upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in late November. As of July 12, 2022, Piper Sandler has initiated its “Neutral” rating for NEOG. Earlier on May 23, 2019, Guggenheim initiated its rating. Their recommendation was “a Neutral” for NEOG stock.
Analyzing NEOG Stock Performance
During the last five days, there has been a drop of approximately -2.88%. Over the course of the year, Neogen Corp. shares have dropped approximately -39.63%. Shares of the company reached a 52-week high of $20.72 on 01/02/24 and a 52-week low of $11.74 on 04/16/24. A 50-day SMA is recorded $15.57, while a 200-day SMA reached $18.17. Nevertheless, trading volume fell to 3.14 million shares from 2.59 million shares the previous day.
Support And Resistance Levels for Neogen Corp. (NEOG)
According to the 24-hour chart, there is a support level at 11.86, which, if violated, would cause prices to drop to 11.59. In the upper region, resistance lies at 12.46. The next price resistance is at 12.78. RSI (Relative Strength Index) is 27.03 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.44, which suggests the price will decrease in the coming days. Percent R is at 90.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
