Neonode (NASDAQ:NEON) Upgraded at Wall Street Zen

Neonode (NASDAQ:NEON) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other equities analysts have also recently commented on NEON. LADENBURG THALM/SH SH cut shares of Neonode from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.50 to $6.00 in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Neonode in a report on Monday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Neonode presently has an average rating of “Reduce” and an average price target of $6.00.

Neonode Price Performance

Shares of Neonode stock opened at $2.01 on Friday. Neonode has a 1-year low of $1.91 and a 1-year high of $29.90. The business’s fifty day moving average price is $2.57 and its two-hundred day moving average price is $11.90. The company has a market capitalization of $33.73 million, a P/E ratio of -6.28 and a beta of 0.70.

Neonode (NASDAQ:NEON) last issued its quarterly earnings results on Thursday, November 6th. The electronics maker reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Neonode had a negative return on equity of 38.60% and a net margin of 408.88%.The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $0.65 million. On average, research analysts expect that Neonode will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of Neonode

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Neonode by 105.2% during the third quarter. Vanguard Group Inc. now owns 547,807 shares of the electronics maker’s stock valued at $1,912,000 after purchasing an additional 280,806 shares during the last quarter. Two Sigma Investments LP acquired a new position in Neonode in the third quarter worth approximately $749,000. Geode Capital Management LLC increased 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 buying an additional 125,970 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Neonode during the 1st quarter valued at $393,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Neonode during the 3rd quarter valued at $155,000. 11.63% of the stock is currently owned by institutional investors.

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.