Zacks Research Upgrades Neonc Technologies (NASDAQ:NTHI) to Hold

Neonc Technologies (NASDAQ:NTHI) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen raised Neonc Technologies from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 21st. Roth Capital began coverage on shares of Neonc Technologies in a research report on Thursday, September 24th. They set a “buy” rating for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $15.00 target price on shares of Neonc Technologies in a research report on Tuesday, September 8th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Neonc Technologies Stock Up 9.1%

Shares of Neonc Technologies stock opened at $3.49 on Thursday. The stock’s fifty day moving average is $3.33 and its 200 day moving average is $5.38. Neonc Technologies has a one year low of $2.50 and a one year high of $12.00.

Neonc Technologies (NASDAQ:NTHI) last issued its earnings results on Thursday, November 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03).

Insider Activity

In related news, CEO Amir Heshmatpour purchased 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $3.30 per share, for a total transaction of $115,500.00. Following the completion of the transaction, the chief executive officer owned 3,183,000 shares of the company’s stock, valued at approximately $10,503,900. This trade represents a 1.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas Chen bought 12,757 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was purchased at an average cost of $5.49 per share, with a total value of $70,035.93. Following the completion of the transaction, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at approximately $75,240.45. The trade was a 1,345.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 134,812 shares of company stock worth $530,149 in the last quarter.

Hedge Funds Weigh In On Neonc Technologies

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of Neonc Technologies in the second quarter valued at about $1,017,000. BlackRock Inc. acquired a new position in shares of Neonc Technologies in the 2nd quarter valued at $815,000. Westmount Partners LLC raised its holdings in shares of Neonc Technologies by 355.2% in the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock valued at $893,000 after buying an additional 153,858 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in shares of Neonc Technologies during the second quarter worth approximately $126,000.

About Neonc Technologies