Wall Street Zen Upgrades Neonode (NASDAQ:NEON) to Hold

Neonode (NASDAQ:NEON) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently weighed in on NEON. LADENBURG THALM/SH SH downgraded shares of Neonode from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.50 to $6.00 in a report on Thursday, September 4th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Neonode in a research report on Monday, December 15th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $6.00.

Neonode Trading Down 0.5%

Shares of NEON opened at $2.01 on Friday. The stock has a 50 day moving average of $2.57 and a 200 day moving average of $11.93. The company has a market capitalization of $33.73 million, a price-to-earnings ratio of -6.28 and a beta of 0.70. Neonode has a 12 month low of $1.91 and a 12 month high of $29.90.

Neonode (NASDAQ:NEON) last posted its quarterly earnings data on Thursday, November 6th. The electronics maker reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.65 million. Neonode had a negative return on equity of 38.60% and a net margin of 408.88%. As a group, equities research analysts predict that Neonode will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Neonode

Several institutional investors have recently added to or reduced their stakes in NEON. Ameritas Investment Partners Inc. purchased a new position in shares of Neonode in the second quarter worth about $27,000. Legal & General Group Plc purchased a new stake in shares of Neonode during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in Neonode in the 3rd quarter worth approximately $34,000. GSA Capital Partners LLP purchased a new position in Neonode in the 3rd quarter valued at approximately $42,000. Finally, BNP Paribas Financial Markets grew its stake 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 buying an additional 1,283 shares in the last quarter. 11.63% of the stock is owned by hedge funds and other institutional investors.

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.