Neonode Inc. (NASDAQ:NEON - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.85 and traded as high as $10.49. Neonode shares last traded at $10.30, with a volume of 57,597 shares traded.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered Neonode from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.
Check Out Our Latest Stock Analysis on Neonode
Neonode Stock Up 2.4%
The company has a market cap of $172.19 million, a PE ratio of -14.45 and a beta of 0.42. The business has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $8.92.
Neonode (NASDAQ:NEON - Get Free Report) last released its earnings results on Wednesday, May 14th. The electronics maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $0.51 million during the quarter, compared to analysts' expectations of $0.65 million. Neonode had a negative net margin of 252.78% and a negative return on equity of 67.67%. On average, research analysts forecast that Neonode Inc. will post -0.42 EPS for the current fiscal year.
Hedge Funds Weigh In On Neonode
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its position in shares of Neonode by 137.1% in the first quarter. Jane Street Group LLC now owns 47,320 shares of the electronics maker's stock valued at $385,000 after acquiring an additional 27,358 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Neonode in the first quarter valued at approximately $393,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Neonode in the first quarter valued at approximately $234,000. Squarepoint Ops LLC acquired a new stake in shares of Neonode in the fourth quarter valued at approximately $107,000. Finally, Northern Trust Corp increased its holdings in shares of Neonode by 654.4% in the fourth quarter. Northern Trust Corp now owns 158,709 shares of the electronics maker's stock valued at $1,306,000 after purchasing an additional 137,671 shares during the last quarter. Hedge funds and other institutional investors own 11.63% of the company's stock.
Neonode Company Profile
(
Get Free Report)
Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, Germany, Switzerland, France, Sweden, China, and internationally. It also offers software solutions for machine perception to detect and track persons and objects in video streams from cameras and other types of imagers.
Featured Articles
Before you consider Neonode, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Neonode wasn't on the list.
While Neonode currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
