FY2016 EPS Estimates for Neonode Inc. (NEON) Raised by Craig Hallum
Neonode Inc. (NASDAQ:NEON) – Research analysts at Craig Hallum raised their FY2016 earnings estimates for shares of Neonode in a research report issued on Wednesday. Craig Hallum analyst M. Malouf now anticipates that the firm will post earnings of ($0.01) per share for the year, up from their previous forecast of ($0.07).
Neonode (NASDAQ:NEON) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.04. Neonode had a negative net margin of 72.28% and a negative return on equity of 476.67%. The business earned $3.10 million during the quarter, compared to analysts’ expectations of $3.20 million.
Separately, Zacks Investment Research downgraded Neonode from a “hold” rating to a “sell” rating in a research report on Wednesday, August 24th.
Neonode (NASDAQ:NEON) opened at 1.48 on Monday. The stock has a 50 day moving average price of $1.18 and a 200-day moving average price of $1.44. Neonode has a 12-month low of $0.96 and a 12-month high of $2.92. The stock’s market cap is $64.85 million.
Several large investors have recently made changes to their positions in the stock. Lincoln Capital LLC acquired a new stake in shares of Neonode during the second quarter worth approximately $292,000. Royce & Associates LP increased its stake in shares of Neonode by 14.1% in the second quarter. Royce & Associates LP now owns 2,118,561 shares of the company’s stock worth $3,093,000 after buying an additional 262,500 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Neonode by 0.7% in the second quarter. Vanguard Group Inc. now owns 1,436,045 shares of the company’s stock worth $2,097,000 after buying an additional 10,330 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Neonode by 17.3% in the second quarter. BlackRock Fund Advisors now owns 107,266 shares of the company’s stock worth $157,000 after buying an additional 15,848 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Neonode during the second quarter worth approximately $697,000. 22.94% of the stock is owned by institutional investors and hedge funds.
Neonode Inc, formerly SBE, Inc, develops and licenses user interfaces and optical infrared touch solutions. The Company’s technology offers multiple features, including the ability to sense an object’s size, depth, velocity, pressure and proximity to any type of surface. It operates through the touch technology licensing business segment.
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