Roubaix Capital LLC Invests $3.05 Million in Neogen Corporation $NEOG

Key Points

• Roubaix Capital LLC has acquired 352,280 shares of Neogen Corporation, valued at approximately $3,054,000, marking a new investment in the company.
• Other institutional investors have significantly increased their holdings in Neogen, with **Versant Capital Management Inc** raising its position by an impressive 1,495.4% during the same quarter.
• Neogen's stock has experienced volatility, with a 1-year low of $3.87 and a high of $17.95, amidst recent analyst ratings suggesting a potential decrease in price targets.

Roubaix Capital LLC acquired a new position in shares of Neogen Corporation (NASDAQ:NEOG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 352,280 shares of the company's stock, valued at approximately $3,054,000. Roubaix Capital LLC owned approximately 0.16% of Neogen at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. CHICAGO TRUST Co NA increased its holdings in shares of Neogen by 19.1% during the first quarter. CHICAGO TRUST Co NA now owns 12,498 shares of the company's stock worth $108,000 after buying an additional 2,000 shares in the last quarter. Ascent Group LLC increased its holdings in shares of Neogen by 17.8% in the fourth quarter. Ascent Group LLC now owns 14,340 shares of the company's stock valued at $174,000 after purchasing an additional 2,165 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Neogen by 3.9% in the first quarter. Yousif Capital Management LLC now owns 74,508 shares of the company's stock valued at $646,000 after purchasing an additional 2,769 shares in the last quarter. State of Wyoming increased its holdings in shares of Neogen by 6.3% in the fourth quarter. State of Wyoming now owns 47,775 shares of the company's stock valued at $580,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Neogen by 1,495.4% in the first quarter. Versant Capital Management Inc now owns 3,127 shares of the company's stock valued at $27,000 after purchasing an additional 2,931 shares in the last quarter. Institutional investors and hedge funds own 96.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler lowered their price target on shares of Neogen from $6.40 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Guggenheim lowered their price target on shares of Neogen from $13.00 to $10.00 and set a "buy" rating for the company in a report on Monday, June 30th. Finally, William Blair lowered shares of Neogen from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Neogen presently has an average rating of "Hold" and an average target price of $7.50.

Neogen Trading Up 1.3%

NEOG stock traded up $0.07 during midday trading on Tuesday, reaching $5.61. The company's stock had a trading volume of 2,937,023 shares, compared to its average volume of 5,760,932. Neogen Corporation has a 52 week low of $3.87 and a 52 week high of $17.95. The stock has a market cap of $1.22 billion, a PE ratio of -1.12 and a beta of 1.79. The company has a quick ratio of 2.22, a current ratio of 3.32 and a debt-to-equity ratio of 0.42. The business's 50-day simple moving average is $5.11 and its 200-day simple moving average is $6.71.

About Neogen

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.