ValuEngine Downgrades Neonode (NEON) to Hold

ValuEngine cut shares of Neonode (NASDAQ:NEON) from a buy rating to a hold rating in a research note published on Friday, ValuEngine reports.

Shares of NEON opened at $3.39 on Friday. The company has a quick ratio of 4.01, a current ratio of 4.54 and a debt-to-equity ratio of 0.12. Neonode has a 12-month low of $1.31 and a 12-month high of $4.90.

Neonode (NASDAQ:NEON) last announced its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.06. Neonode had a negative net margin of 35.84% and a negative return on equity of 39.16%. The firm had revenue of $2.36 million during the quarter.

An institutional investor recently bought a new position in Neonode stock. Geode Capital Management LLC acquired a new stake in Neonode, Inc (NASDAQ:NEON) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,533 shares of the electronics maker’s stock, valued at approximately $29,000. Geode Capital Management LLC owned 0.30% of Neonode at the end of the most recent quarter. Institutional investors and hedge funds own 5.55% 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 the zForce brand in the United States, Japan, Germany, China, Taiwan, South Korea, and internationally. It develops optical touch and gesture solutions for human interaction with devices.

Further Reading: How Do Front-End Loads Impact an Investment?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Neonode Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neonode and related companies with MarketBeat.com's FREE daily email newsletter.