Neonode (NASDAQ:NEON) Shares Pass Above Two Hundred Day Moving Average After Earnings Miss

Neonode, Inc (NASDAQ:NEON) crossed above its 200-day moving average during trading on Wednesday following a better than expected earnings announcement. The stock has a 200-day moving average of $0.00 and traded as high as $2.83. Neonode shares last traded at $2.47, with a volume of 15,517 shares.

The electronics maker reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04). Neonode had a negative net margin of 35.96% and a negative return on equity of 37.07%. The firm had revenue of $1.71 million during the quarter.

A number of research analysts recently weighed in on the company. Robert W. Baird assumed coverage on Neonode in a report on Friday, July 26th. They issued an “outperform” rating and a $15.00 target price on the stock. ValuEngine upgraded Neonode from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd.

An institutional investor recently bought a new position in Neonode stock. Geode Capital Management LLC acquired a new position in shares of Neonode, Inc (NASDAQ:NEON) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,533 shares of the electronics maker’s stock, valued at approximately $29,000. Geode Capital Management LLC owned approximately 0.30% of Neonode at the end of the most recent reporting period. Institutional investors and hedge funds own 6.06% of the company’s stock.

The stock has a 50 day simple moving average of $2.78 and a 200 day simple moving average of $2.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.13 and a current ratio of 3.57.

Neonode Company Profile (NASDAQ:NEON)

Neonode Inc, together with its subsidiaries, develops and licenses user interface and optical interactive touch solutions under the zForce brand in the United States, Japan, Germany, China, Taiwan, South Korea, and internationally. It develops optical touch and gesture solutions for human interaction with devices.

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