Neonode Inc. (NASDAQ:NEON) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Neonode is a company that designs, develops and sells patented technologies and products focused on unique user experiences. With offices in Stockholm, Sweden and San Ramon, California, Neonode Inc. is a company with licenses and products sold worldwide through both direct web sales and local distribution partners. “

Other equities research analysts have also recently issued research reports about the stock. Cowen and Company restated an “outperform” rating and set a $3.00 target price (down previously from $4.00) on shares of Neonode in a research note on Friday, August 11th. ValuEngine upgraded shares of Neonode from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Craig Hallum cut shares of Neonode from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th.

Shares of Neonode (NASDAQ:NEON) opened at $0.94 on Wednesday. Neonode has a one year low of $0.90 and a one year high of $2.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.06 and a quick ratio of 0.74.

Neonode (NASDAQ:NEON) last released its earnings results on Thursday, November 9th. The electronics maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Neonode had a negative return on equity of 106.37% and a negative net margin of 34.32%. The firm had revenue of $2.31 million for the quarter, compared to the consensus estimate of $2.56 million. sell-side analysts expect that Neonode will post -0.04 earnings per share for the current year.

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An institutional investor recently bought a new position in Neonode stock. KCG Holdings Inc. bought a new stake in Neonode Inc. (NASDAQ:NEON) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 158,393 shares of the electronics maker’s stock, valued at approximately $253,000. KCG Holdings Inc. owned approximately 0.32% of Neonode as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 14.61% of the company’s stock.

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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