Neonode (NASDAQ:NEON) Announces Earnings Results

Neonode (NASDAQ:NEON) released its quarterly earnings results on Thursday. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02, FiscalAI reports. The firm had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.88 million. Neonode had a negative return on equity of 32.35% and a net margin of 397.84%.

Neonode Stock Down 11.3%

Shares of NEON traded down $0.08 on Thursday, hitting $0.62. 76,232 shares of the stock traded hands, compared to its average volume of 130,834. Neonode has a 1 year low of $0.56 and a 1 year high of $2.48. The firm has a market capitalization of $10.44 million, a P/E ratio of -1.98 and a beta of 1.82. The stock’s 50 day moving average is $0.80 and its two-hundred day moving average is $1.22.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Neonode in a research note on Friday, September 11th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

Neonode Company Profile

Neonode Inc. (NASDAQ:NEON) is a Swedish technology company that develops optical sensing solutions for touch, gesture control and object detection. Its technology is designed to enable interactive interfaces without relying exclusively on conventional capacitive touchscreens or mechanical controls. The company’s products include zForce optical sensing modules and related software, which use infrared light to detect touch, hand movements and other interactions. Neonode provides these solutions for applications in automotive systems, consumer electronics, industrial equipment, office devices and other embedded products.