Neonc Technologies (NASDAQ:NTHI) Releases Earnings Results, Misses Expectations By $0.03 EPS

Neonc Technologies (NASDAQ:NTHI) announced its earnings results on Thursday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03), FiscalAI reports.

Neonc Technologies Price Performance

Shares of NTHI traded up $0.29 during mid-day trading on Friday, hitting $3.49. 227,875 shares of the company’s stock were exchanged, compared to its average volume of 114,124. The company has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $5.38. Neonc Technologies has a 52 week low of $2.50 and a 52 week high of $12.00.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research upgraded Neonc Technologies from a “strong sell” rating to a “hold” rating in a report on Thursday. Weiss Ratings lowered Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Neonc Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Roth Capital started coverage on Neonc Technologies in a report on Thursday, September 24th. They issued a “buy” rating for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research note on Tuesday, September 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Neonc Technologies presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Insider Activity

In other news, CEO Thomas C. Chen acquired 12,757 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $5.49 per share, with a total value of $70,035.93. Following the completion of the transaction, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at $75,240.45. This trade represents a 1,345.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir F. Heshmatpour bought 35,000 shares of Neonc Technologies stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $3.30 per share, for a total transaction of $115,500.00. Following the acquisition, the chief executive officer owned 3,183,000 shares in the company, valued at approximately $10,503,900. This represents a 1.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 134,812 shares of company stock valued at $530,149 over the last quarter.

About Neonc Technologies