Neonode (NASDAQ:NEON) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Neonode (NASDAQ:NEON) from a hold rating to a strong sell rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Neonode in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Neonode presently has an average rating of “Reduce” and a consensus target price of $6.00.

Neonode Stock Performance

Shares of NASDAQ:NEON opened at $1.45 on Friday. The company has a market capitalization of $24.33 million, a P/E ratio of -4.53 and a beta of 0.81. The company’s 50-day moving average is $1.75 and its 200 day moving average is $2.47. Neonode has a fifty-two week low of $1.34 and a fifty-two week high of $29.90.

Hedge Funds Weigh In On Neonode

A number of hedge funds and other institutional investors have recently bought and sold shares of NEON. Goldman Sachs Group Inc. acquired a new position in Neonode in the 1st quarter valued at $393,000. Jane Street Group LLC lifted its stake in shares of Neonode by 137.1% in the 1st quarter. Jane Street Group LLC now owns 47,320 shares of the electronics maker’s stock worth $385,000 after acquiring an additional 27,358 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Neonode by 87.6% in the second quarter. Geode Capital Management LLC now owns 269,840 shares of the electronics maker’s stock valued at $6,882,000 after acquiring an additional 125,970 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Neonode in the second quarter valued at about $59,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Neonode during the second quarter worth about $127,000. 11.63% of the stock is currently owned by hedge funds and other institutional investors.

About Neonode

Neonode AB (NASDAQ: NEON) is a technology company specializing in optical-based user interface solutions for electronic devices. The company develops sensor and software platforms that allow touch, gesture and hover interactions through the projection and detection of infrared light. Neonode’s offerings are designed to enable intuitive, reliable and low-power human-machine interfaces across a variety of device categories.

At the core of Neonode’s portfolio are its zForce and Neonode software products, which can be integrated into consumer electronics, automotive systems, home appliances, industrial equipment and Internet of Things applications.