Neonode Inc. (NEON) Announces Earnings Results
Neonode Inc. (NASDAQ:NEON) posted its quarterly earnings data on Wednesday. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01, Bloomberg Earnings reports. The business had revenue of $2.33 million during the quarter, compared to the consensus estimate of $3.68 million. Neonode had a negative net margin of 48.19% and a negative return on equity of 109.91%.
Shares of Neonode (NASDAQ:NEON) traded down 3.81% during mid-day trading on Friday, hitting $1.01. 219,075 shares of the stock were exchanged. Neonode has a 52 week low of $0.96 and a 52 week high of $2.19. The stock’s 50-day moving average is $1.12 and its 200-day moving average is $1.40. The stock’s market capitalization is $49.33 million.
A hedge fund recently bought a new stake in Neonode stock. KCG Holdings Inc. purchased a new position in shares of Neonode Inc. (NASDAQ:NEON) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 158,393 shares of the electronics maker’s stock, valued at approximately $253,000. KCG Holdings Inc. owned approximately 0.32% of Neonode at the end of the most recent quarter. 25.32% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. Cowen and Company reissued an “outperform” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Neonode in a report on Friday. Zacks Investment Research raised shares of Neonode from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Craig Hallum downgraded shares of Neonode from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine raised shares of Neonode from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd.
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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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