Neonode Inc. (NASDAQ:NEON) was the target of a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 1,802,270 shares, a drop of 57.9% from the September 15th total of 4,276,817 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily volume of 127,340 shares, the days-to-cover ratio is presently 14.2 days.

Neonode (NASDAQ:NEON) opened at 1.20 on Wednesday. The company’s market cap is $58.61 million. The firm’s 50-day moving average is $1.22 and its 200 day moving average is $1.26. Neonode has a 52-week low of $0.98 and a 52-week high of $2.19.

Neonode (NASDAQ:NEON) last announced its quarterly earnings results on Wednesday, August 9th. The electronics maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The firm had revenue of $2.33 million for the quarter, compared to analyst estimates of $3.68 million. Neonode had a negative net margin of 48.19% and a negative return on equity of 123.74%. On average, equities research analysts predict that Neonode will post ($0.05) EPS for the current fiscal year.

A hedge fund recently bought a new stake in Neonode stock. KCG Holdings Inc. purchased a new stake in shares of Neonode Inc. (NASDAQ:NEON) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 158,393 shares of the electronics maker’s stock, valued at approximately $253,000. KCG Holdings Inc. owned about 0.32% of Neonode at the end of the most recent quarter. Hedge funds and other institutional investors own 14.71% of the company’s stock.

Several equities analysts have commented on NEON shares. Zacks Investment Research upgraded shares of Neonode from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Craig Hallum lowered shares of Neonode from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Cowen and Company reiterated an “outperform” rating and set a $3.00 price objective (down previously from $4.00) on shares of Neonode in a research report on Friday, August 11th. Finally, ValuEngine upgraded shares of Neonode from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th.

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About Neonode

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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