Neonode (NASDAQ:NEON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Neonode is a company that designs, develops and sells patented technologies and products focused on unique user experiences. With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a company with licenses and products sold worldwide through both direct web sales and local distribution partners. “
Separately, ValuEngine cut shares of Neonode from a “hold” rating to a “sell” rating in a research report on Monday, October 16th.
Neonode (NASDAQ:NEON) last posted its quarterly earnings data on Thursday, November 9th. The electronics maker reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $2.31 million for the quarter, compared to analysts’ expectations of $2.56 million. Neonode had a negative net margin of 34.32% and a negative return on equity of 69.28%. sell-side analysts expect that Neonode will post -0.08 earnings per share for the current year.
In related news, Director Ulf Rosberg acquired 100,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were purchased at an average price of $0.90 per share, for a total transaction of $90,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 14.90% of the company’s stock.
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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