Neonode (NASDAQ:NEON) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Neonode (NASDAQ:NEON) posted its quarterly earnings data on Wednesday. The electronics maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01), FiscalAI reports. The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.66 million. Neonode had a negative return on equity of 37.98% and a net margin of 411.88%.

Neonode Stock Down 4.1%

NASDAQ NEON traded down $0.07 during midday trading on Wednesday, hitting $1.64. The company had a trading volume of 71,886 shares, compared to its average volume of 101,589. The firm has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $1.90. Neonode has a fifty-two week low of $1.27 and a fifty-two week high of $29.90. The stock has a market cap of $27.52 million, a price-to-earnings ratio of -5.13 and a beta of 1.00.

Institutional Investors Weigh In On Neonode

A number of institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Neonode during the fourth quarter valued at about $159,000. Jain Global LLC bought a new stake in shares of Neonode in the 4th quarter worth approximately $59,000. State Street Corp grew its holdings in shares of Neonode by 17.0% during the 4th quarter. State Street Corp now owns 249,104 shares of the electronics maker’s stock worth $433,000 after purchasing an additional 36,244 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Neonode by 146.2% during the 4th quarter. Deutsche Bank AG now owns 42,779 shares of the electronics maker’s stock worth $74,000 after purchasing an additional 25,401 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Neonode during the fourth quarter valued at approximately $53,000. 11.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Neonode from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Neonode presently has an average rating of “Reduce” and a consensus target price of $6.00.

Neonode Company Profile

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.