Neonode (NASDAQ:NEON) Earns Sell (D-) Rating from Weiss Ratings

Neonode (NASDAQ:NEON)‘s stock had its “sell (d-)” rating restated by Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Separately, LADENBURG THALM/SH SH downgraded Neonode from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.50 to $6.00 in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $6.00.

Neonode Trading Up 1.9%

NASDAQ NEON opened at $3.29 on Friday. The business’s 50-day moving average price is $8.96 and its 200 day moving average price is $14.10. The company has a market capitalization of $55.21 million, a PE ratio of -4.63 and a beta of 0.52. Neonode has a twelve month low of $3.13 and a twelve month high of $29.90.

Neonode (NASDAQ:NEON) last released its quarterly earnings data on Wednesday, August 13th. The electronics maker reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $0.57 million. Neonode had a negative return on equity of 40.64% and a negative net margin of 241.38%. Equities analysts predict that Neonode will post -0.42 EPS for the current year.

Institutional Investors Weigh In On Neonode

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. bought a new position in Neonode in the 2nd quarter valued at $27,000. Legal & General Group Plc acquired a new stake in shares of Neonode in the 2nd quarter valued at about $29,000. BNP Paribas Financial Markets raised its stake in shares of Neonode by 238.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,820 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 1,283 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Neonode in the second quarter valued at about $59,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Neonode in the second quarter valued at about $125,000. 11.63% of the stock is owned by institutional investors and hedge funds.

Neonode Company Profile

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, Germany, Switzerland, France, Sweden, China, and internationally. It also offers software solutions for machine perception to detect and track persons and objects in video streams from cameras and other types of imagers.