Wall Street Zen cut shares of Neonode (NASDAQ:NEON - Free Report) from a hold rating to a sell rating in a report published on Thursday morning.
Neonode Stock Performance
Shares of Neonode stock traded up $0.60 during trading on Thursday, hitting $10.35. 79,958 shares of the stock were exchanged, compared to its average volume of 280,741. The stock's fifty day moving average is $9.62 and its 200 day moving average is $8.69. The stock has a market cap of $173.62 million, a PE ratio of -14.55 and a beta of 0.45. Neonode has a 12 month low of $1.90 and a 12 month high of $15.00.
Neonode (NASDAQ:NEON - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The electronics maker reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.65 million. Neonode had a negative return on equity of 67.67% and a negative net margin of 252.78%. Sell-side analysts anticipate that Neonode will post -0.42 EPS for the current fiscal year.
Hedge Funds Weigh In On Neonode
Several institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its position in shares of Neonode by 654.4% during the fourth quarter. Northern Trust Corp now owns 158,709 shares of the electronics maker's stock worth $1,306,000 after acquiring an additional 137,671 shares during the last quarter. Geode Capital Management LLC grew its position in Neonode by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker's stock valued at $1,125,000 after buying an additional 10,732 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Neonode in the 1st quarter valued at about $393,000. Jane Street Group LLC grew its position in Neonode by 137.1% in the 1st quarter. Jane Street Group LLC now owns 47,320 shares of the electronics maker's stock valued at $385,000 after buying an additional 27,358 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in Neonode in the 1st quarter valued at about $234,000. Institutional investors own 11.63% of the company's stock.
About Neonode
(
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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.
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