Neonode (NASDAQ:NEON – Get Free Report) posted its quarterly earnings results on Wednesday. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01), FiscalAI reports. Neonode had a negative return on equity of 37.98% and a net margin of 411.88%.The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.66 million.
Neonode Price Performance
NASDAQ NEON traded up $0.10 on Thursday, hitting $1.74. 96,602 shares of the stock were exchanged, compared to its average volume of 126,532. The business’s fifty day moving average is $1.55 and its 200 day moving average is $1.90. Neonode has a 52 week low of $1.27 and a 52 week high of $29.90. The company has a market capitalization of $29.15 million, a PE ratio of -5.44 and a beta of 1.00.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of Neonode from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $6.00.
Hedge Funds Weigh In On Neonode
Several large investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new position in shares of Neonode in the fourth quarter valued at about $159,000. Jain Global LLC bought a new position in shares of Neonode in the fourth quarter valued at about $59,000. State Street Corp raised its position in shares of Neonode by 17.0% in the fourth quarter. State Street Corp now owns 249,104 shares of the electronics maker’s stock valued at $433,000 after purchasing an additional 36,244 shares during the period. Deutsche Bank AG raised its position in shares of Neonode by 146.2% in the fourth quarter. Deutsche Bank AG now owns 42,779 shares of the electronics maker’s stock valued at $74,000 after purchasing an additional 25,401 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in shares of Neonode in the fourth quarter valued at about $53,000. 11.63% of the stock is owned by institutional investors.
About Neonode
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.
Featured Stories
- Five stocks we like better than Neonode
- How the 3 Leading Quantum Firms Stack Up After Q1 Earnings
- Cisco’s Vertical Rally May Still Be in the Early Innings
- Amazon vs. Alibaba: One Is Clearly The Better Value Play right Now
- The Great SPR Arbitrage: An Oil Market Glitch Fuels Sector Gains
Receive News & Ratings for Neonode Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Neonode and related companies with MarketBeat.com's FREE daily email newsletter.
-limited-logo-1200x675.png){kind=logo}
