Neonode (NASDAQ:NEON) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Neonode (NASDAQ:NEON) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other equities analysts also recently weighed in on NEON. Weiss Ratings reissued a “sell (d+)” rating on shares of Neonode in a research note on Monday, December 15th. LADENBURG THALM/SH SH lowered Neonode from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.50 to $6.00 in a report on Thursday, September 4th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Neonode has a consensus rating of “Reduce” and an average price target of $6.00.

Neonode Trading Down 0.5%

Shares of NEON opened at $2.01 on Friday. The stock’s 50 day moving average is $2.57 and its two-hundred day moving average is $11.92. Neonode has a 12 month low of $1.91 and a 12 month high of $29.90. The firm has a market cap of $33.73 million, a P/E ratio of -6.28 and a beta of 0.70.

Neonode (NASDAQ:NEON) last issued its quarterly earnings results on Thursday, November 6th. The electronics maker reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $0.43 million during the quarter, compared to analyst estimates of $0.65 million. Neonode had a net margin of 408.88% and a negative return on equity of 38.60%. Equities research analysts forecast that Neonode will post -0.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. purchased a new stake in shares of Neonode during the second quarter worth $27,000. Legal & General Group Plc acquired a new position in Neonode during the 2nd quarter worth $29,000. Russell Investments Group Ltd. purchased a new stake in Neonode during the 3rd quarter worth about $34,000. GSA Capital Partners LLP purchased a new stake in Neonode during the 3rd quarter worth about $42,000. Finally, BNP Paribas Financial Markets raised its position in Neonode by 238.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,820 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 1,283 shares in the last quarter. Hedge funds and other 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.