Neonode (NASDAQ:NEON) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

Shares of NEON stock opened at $2.96 on Tuesday. Neonode has a 1-year low of $1.31 and a 1-year high of $4.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.13 and a current ratio of 3.57.

Neonode (NASDAQ:NEON) last issued its earnings results on Wednesday, May 8th. The electronics maker reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. The company had revenue of $2.01 million during the quarter. Neonode had a negative return on equity of 37.07% and a negative net margin of 35.96%.

A hedge fund recently bought a new stake in Neonode stock. Geode Capital Management LLC acquired a new position in Neonode, Inc (NASDAQ:NEON) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 17,533 shares of the electronics maker’s stock, valued at approximately $29,000. Geode Capital Management LLC owned 0.30% of Neonode as of its most recent filing with the Securities and Exchange Commission. 6.06% of the stock is owned by institutional investors and hedge funds.

About Neonode

Neonode Inc, together with its subsidiaries, develops and licenses user interface and optical interactive touch solutions under the zForce brand in the United States, Japan, Germany, China, Taiwan, South Korea, and internationally. It develops optical touch and gesture solutions for human interaction with devices.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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