Neonode Inc. (NASDAQ:NEON) Upgraded to Hold at Zacks Investment Research
Neonode Inc. (NASDAQ:NEON) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Neonode is a company that designs, develops and sells patented technologies and products focused on unique user experiences. With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a company with licenses and products sold worldwide through both direct web sales and local distribution partners. “
Separately, ValuEngine upgraded Neonode from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd.
Shares of Neonode (NEON) opened at 1.19 on Tuesday. The firm’s 50-day moving average is $1.19 and its 200-day moving average is $1.47. Neonode has a 1-year low of $0.96 and a 1-year high of $2.19. The stock’s market capitalization is $58.12 million.
Neonode (NASDAQ:NEON) last issued its earnings results on Tuesday, May 9th. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter. Neonode had a negative return on equity of 169.76% and a negative net margin of 50.46%. The company had revenue of $2.33 million for the quarter, compared to the consensus estimate of $2.81 million. On average, analysts predict that Neonode will post ($0.01) earnings per share for the current fiscal year.
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A hedge fund recently bought a new stake in Neonode stock. KCG Holdings Inc. bought a new position in Neonode Inc. (NASDAQ:NEON) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 158,393 shares of the electronics maker’s stock, valued at approximately $253,000. KCG Holdings Inc. owned approximately 0.32% of Neonode as of its most recent filing with the SEC. 25.38% of the stock is currently owned by institutional investors.
Neonode Inc, formerly SBE, Inc, develops and licenses user interfaces and optical infrared touch solutions. The Company’s technology offers multiple features, including the ability to sense an object’s size, depth, velocity, pressure and proximity to any type of surface. It operates through the touch technology licensing business segment.
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