Zacks Investment Research upgraded shares of Neonode Inc. (NASDAQ:NEON) from a sell rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Neonode is a company that designs, develops and sells patented technologies and products focused on unique user experiences. With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a company with licenses and products sold worldwide through both direct web sales and local distribution partners. “

Other equities analysts also recently issued reports about the stock. Cowen and Company restated an outperform rating and set a $3.00 price objective (down from $4.00) on shares of Neonode in a research note on Friday, August 11th. ValuEngine downgraded shares of Neonode from a hold rating to a sell rating in a research note on Monday. Finally, Craig Hallum downgraded shares of Neonode from a buy rating to a hold rating in a research note on Wednesday, August 9th.

Shares of Neonode (NASDAQ:NEON) traded down 1.67% during mid-day trading on Tuesday, hitting $1.18. The company’s stock had a trading volume of 18,334 shares. The company has a 50-day moving average price of $1.22 and a 200-day moving average price of $1.26. The stock’s market cap is $57.64 million. Neonode has a 1-year low of $0.98 and a 1-year high of $2.19.

Neonode (NASDAQ:NEON) last posted its quarterly earnings data on Wednesday, August 9th. The electronics maker reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). Neonode had a negative return on equity of 123.74% and a negative net margin of 48.19%. The business had revenue of $2.33 million for the quarter, compared to analyst estimates of $3.68 million. Analysts predict that Neonode will post ($0.05) EPS for the current fiscal year.

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A hedge fund recently bought a new stake in Neonode stock. KCG Holdings Inc. bought a new stake in Neonode Inc. (NASDAQ:NEON) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 158,393 shares of the electronics maker’s stock, valued at approximately $253,000. KCG Holdings Inc. owned about 0.32% of Neonode as of its most recent filing with the Securities and Exchange Commission. 14.71% of the stock is currently owned by institutional investors.

About Neonode

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.

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