Neonode Inc. (NASDAQ:NEON) Short Interest Update

Neonode Inc. (NASDAQ:NEON) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 888,135 shares, an increase of 24.5% from the January 15th total of 713,589 shares. Currently, 7.0% of the company’s stock are short sold. Based on an average daily volume of 177,156 shares, the days-to-cover ratio is presently 5.0 days. Based on an average daily volume of 177,156 shares, the days-to-cover ratio is presently 5.0 days. Currently, 7.0% of the company’s stock are short sold.

Neonode Stock Down 0.6%

NEON traded down $0.01 during trading on Monday, hitting $1.72. 70,528 shares of the company traded hands, compared to its average volume of 164,346. Neonode has a one year low of $1.68 and a one year high of $29.90. The stock’s fifty day moving average is $1.93 and its 200 day moving average is $6.24. The firm has a market cap of $28.86 million, a P/E ratio of -5.38 and a beta of 0.79.

Wall Street Analyst Weigh In

Several analysts have recently commented on NEON shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Neonode in a report on Monday, December 29th. Wall Street Zen upgraded shares of Neonode from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $6.00.

Hedge Funds Weigh In On Neonode

Large investors have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Neonode by 17.0% during the 4th quarter. State Street Corp now owns 249,104 shares of the electronics maker’s stock valued at $433,000 after buying an additional 36,244 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Neonode by 146.2% during the fourth quarter. Deutsche Bank AG now owns 42,779 shares of the electronics maker’s stock worth $74,000 after acquiring an additional 25,401 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Neonode in the fourth quarter worth $53,000. Geode Capital Management LLC grew its position in shares of Neonode by 9.5% in the fourth quarter. Geode Capital Management LLC now owns 295,006 shares of the electronics maker’s stock valued at $513,000 after purchasing an additional 25,612 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Neonode during the 3rd quarter valued at $749,000. Hedge funds and other institutional investors own 11.63% of the company’s stock.

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.