Neonode (NEON) Upgraded to “Hold” by Zacks Investment Research
Neonode (NASDAQ:NEON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
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. “
Separately, Cowen reissued a “buy” rating and set a $1.00 price objective on shares of Neonode in a research note on Friday, March 9th.
Neonode (NASDAQ:NEON) last released its quarterly earnings data on Tuesday, May 8th. The electronics maker reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $2.38 million during the quarter, compared to analyst estimates of $2.69 million. Neonode had a negative return on equity of 63.40% and a negative net margin of 44.00%. sell-side analysts anticipate that Neonode will post -0.02 earnings per share for the current year.
In other Neonode news, Director Ulf Rosberg purchased 421,396 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average price of $0.43 per share, with a total value of $181,200.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.40% of the company’s stock.
Neonode Company Profile
Neonode Inc, together with its subsidiaries, develops and licenses user interface and optical interactive touch solutions under zForce brand name in the United States, Sweden, Japan, China, Germany, Taiwan, South Korea, Canada, Singapore, and internationally. It develops optical touch and gesture solutions for human interaction with devices, including automotive systems, printers, medical devices, PC devices, monitors, mobile phones, tablets, and e-readers.
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