Neonode (NEON) Shares Up 5.7%

Neonode Inc. (NASDAQ:NEON) shot up 5.7% during mid-day trading on Wednesday . The company traded as high as $0.95 and last traded at $0.92. 638,043 shares traded hands during trading, an increase of 355% from the average session volume of 140,107 shares. The stock had previously closed at $0.87.

A number of brokerages have recently issued reports on NEON. ValuEngine cut Neonode from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Cowen reiterated an “outperform” rating and set a $3.00 price objective (down previously from $4.00) on shares of Neonode in a research note on Friday, August 11th. Zacks Investment Research cut Neonode from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, Craig Hallum cut Neonode from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.59 and a current ratio of 3.12.

Neonode (NASDAQ:NEON) last posted its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Neonode had a negative net margin of 34.32% and a negative return on equity of 69.28%. The business had revenue of $2.31 million during the quarter, compared to the consensus estimate of $2.56 million. analysts anticipate that Neonode Inc. will post -0.06 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Neonode stock. Royce & Associates LP boosted its holdings in Neonode Inc. (NASDAQ:NEON) by 9.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,218,614 shares of the electronics maker’s stock after acquiring an additional 186,575 shares during the period. Royce & Associates LP owned 4.54% of Neonode worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission. 14.59% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece was first reported by Ticker Report and is owned by of Ticker Report. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3078380/neonode-neon-shares-up-5-7.html.

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.

Receive News & Ratings for Neonode Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neonode Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.