Neonode Inc. (NASDAQ:NEON) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Wednesday, The Fly reports.

A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Neonode from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. ValuEngine upgraded Neonode from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd.

Neonode (NASDAQ:NEON) traded up 2.83% during midday trading on Wednesday, reaching $1.09. 272,652 shares of the company’s stock were exchanged. Neonode has a 52 week low of $0.96 and a 52 week high of $2.19. The stock’s 50 day moving average is $1.15 and its 200 day moving average is $1.42. The firm’s market capitalization is $53.24 million.

Neonode (NASDAQ:NEON) last issued its earnings results on Wednesday, August 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 50.46% and a negative return on equity of 169.76%. On average, analysts expect that Neonode will post ($0.01) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Neonode Inc. (NEON) Downgraded by Craig Hallum” was first posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.watchlistnews.com/neonode-inc-neon-downgraded-by-craig-hallum/1466069.html.

An institutional investor recently raised its position in Neonode stock. Royce & Associates LP boosted its position in Neonode Inc. (NASDAQ:NEON) by 9.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,218,614 shares of the electronics maker’s stock after buying an additional 186,575 shares during the period. Royce & Associates LP owned approximately 4.54% of Neonode worth $2,396,000 at the end of the most recent reporting period. 25.32% of the stock is owned by institutional investors and hedge funds.

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.

The Fly

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 Analyst Ratings Network's FREE daily email newsletter.