Neonc Technologies (NASDAQ:NTHI) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Neonc Technologies (NASDAQ:NTHI) announced its earnings results on Thursday. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03), FiscalAI reports.

Neonc Technologies Stock Up 9.1%

Neonc Technologies stock traded up $0.29 during trading hours on Friday, hitting $3.49. 227,875 shares of the stock traded hands, compared to its average volume of 114,124. The firm’s 50 day moving average price is $3.33 and its 200-day moving average price is $5.38. Neonc Technologies has a 1 year low of $2.50 and a 1 year high of $12.00.

Insider Activity

In other news, CEO Amir Heshmatpour bought 37,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was purchased at an average price of $3.67 per share, with a total value of $135,790.00. Following the completion of the acquisition, the chief executive officer directly owned 3,133,000 shares of the company’s stock, valued at $11,498,110. This trade represents a 1.20% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Chen bought 12,757 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $5.49 per share, with a total value of $70,035.93. Following the acquisition, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at approximately $75,240.45. This trade represents a 1,345.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 134,812 shares of company stock valued at $530,149.

Wall Street Analyst Weigh In

NTHI has been the topic of a number of research analyst reports. Wall Street Zen upgraded Neonc Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, September 8th. Zacks Research raised shares of Neonc Technologies from a “strong sell” rating to a “hold” rating in a research report on Thursday. Weiss Ratings cut shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 21st. Finally, Roth Capital initiated coverage on shares of Neonc Technologies in a research report on Thursday, September 24th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Neonc Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Neonc Technologies Company Profile