Insider Buying: Neonode Director Purchases 20,000 Shares of Stock (NEON)
Neonode (NASDAQ:NEON) Director Mats Dahlin acquired 20,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The shares were purchased at an average cost of $3.00 per share, for a total transaction of $60,000.00. Following the acquisition, the director now directly owns 110,000 shares in the company, valued at approximately $330,000. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Neonode (NASDAQ:NEON) traded up 5.48% during mid-day trading on Wednesday, hitting $3.08. The stock had a trading volume of 304,358 shares. Neonode has a 52-week low of $2.44 and a 52-week high of $7.94. The stock’s 50-day moving average is $3.00 and its 200-day moving average is $4.44. The company’s market cap is $124.6 million.
Neonode (NASDAQ:NEON) last announced its earnings results on Wednesday, August 6th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.09) by $0.01. On average, analysts predict that Neonode will post $-0.38 earnings per share for the current fiscal year.
Separately, analysts at Ascendiant Capital Markets cut their price target on shares of Neonode from $11.25 to $7.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock.
Neonode Inc develops and licenses the next generation of optical multi touch solutions and user interface solutions to Original Equipment Manufacturer (NASDAQ:NEON) and Original Design Manufacturer (ODMs) who embeds the Company’s MultiSensing technology into handheld devices and touch screens that they develop and sell.
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