Neonode (NEON) Upgraded by Zacks Investment Research to Hold
Neonode (NASDAQ:NEON) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors 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. “
Separately, ValuEngine raised shares of Neonode from a “sell” rating to a “hold” rating in a report on Thursday, September 28th.
Neonode (NASDAQ:NEON) last posted its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.01). The company had revenue of $2.31 million during the quarter, compared to analysts’ expectations of $2.56 million. Neonode had a negative return on equity of 69.28% and a negative net margin of 34.32%. sell-side analysts expect that Neonode will post -0.08 EPS for the current year.
In other Neonode news, Director Ulf Rosberg bought 100,000 shares of Neonode stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $0.90 per share, with a total value of $90,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.90% of the company’s stock.
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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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