Neonode (NEON) Stock Rating Lowered by Zacks Investment Research
Neonode (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. “
Separately, Cowen reissued a “buy” rating and issued a $1.00 price target on shares of Neonode in a report on Friday, March 9th.
Neonode (NASDAQ:NEON) last released its earnings results on Thursday, March 8th. The electronics maker reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Neonode had a negative return on equity of 80.84% and a negative net margin of 45.94%. The business had revenue of $3.28 million for the quarter, compared to analyst estimates of $2.45 million. equities analysts forecast that Neonode will post -0.01 earnings per share for the current fiscal year.
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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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