Neonode Inc. (NEON) Short Interest Down 57.9% in September
Neonode Inc. (NASDAQ:NEON) was the recipient of a significant decline in short interest in September. As of September 29th, there was short interest totalling 1,802,270 shares, a decline of 57.9% from the September 15th total of 4,276,817 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average daily volume of 127,340 shares, the short-interest ratio is currently 14.2 days.
NEON has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Neonode from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Craig Hallum downgraded shares of Neonode from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. ValuEngine raised shares of Neonode from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $3.00 price objective (down from $4.00) on shares of Neonode in a research report on Friday, August 11th.
Shares of Neonode (NASDAQ NEON) opened at 1.23 on Friday. The company’s market capitalization is $60.08 million. Neonode has a 52-week low of $0.98 and a 52-week high of $2.19. The firm has a 50-day moving average of $1.22 and a 200 day moving average of $1.27.
Neonode (NASDAQ:NEON) last posted its quarterly earnings data on Wednesday, August 9th. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Neonode had a negative net margin of 48.19% and a negative return on equity of 123.74%. The business had revenue of $2.33 million during the quarter, compared to analyst estimates of $3.68 million. On average, analysts anticipate that Neonode will post ($0.05) EPS for the current year.
A hedge fund recently raised its stake in Neonode stock. Royce & Associates LP lifted its position in Neonode Inc. (NASDAQ:NEON) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,218,614 shares of the electronics maker’s stock after buying an additional 186,575 shares during the quarter. Royce & Associates LP owned about 4.54% of Neonode worth $2,396,000 as of its most recent SEC filing. Institutional investors and hedge funds own 14.71% of the company’s stock.
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Neonode Company Profile
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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