Neonode (NASDAQ:NEON) Upgraded to “Sell” at Wall Street Zen

Neonode (NASDAQ:NEON) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Neonode in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $6.00.

Neonode Stock Performance

Shares of NASDAQ:NEON opened at $0.93 on Friday. The stock has a market capitalization of $15.55 million, a price-to-earnings ratio of -2.90 and a beta of 1.06. Neonode has a 1-year low of $0.72 and a 1-year high of $29.90. The company’s fifty day moving average is $1.44 and its two-hundred day moving average is $1.62.

Neonode (NASDAQ:NEON) last posted its quarterly earnings results on Wednesday, May 13th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Neonode had a negative return on equity of 34.66% and a net margin of 386.64%.The business had revenue of $0.61 million during the quarter, compared to the consensus estimate of $0.66 million.

Hedge Funds Weigh In On Neonode

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Neonode by 105.2% in the 3rd 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 bought a new position in Neonode in the 3rd quarter worth about $749,000. Quadrature Capital Ltd bought a new position in Neonode in the 4th quarter worth about $159,000. Goldman Sachs Group Inc. bought a new position in Neonode in the 1st quarter worth about $393,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Neonode in the first quarter valued at approximately $67,000. Institutional investors own 11.63% of the company’s stock.

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.