Neonode (NASDAQ:NEON) Stock Rating Lowered by Wall Street Zen

Neonode (NASDAQ:NEON) was downgraded by Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Neonode in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Neonode has a consensus rating of “Reduce” and an average target price of $6.00.

Neonode Trading Down 2.8%

NEON stock opened at $1.40 on Friday. The company’s 50-day moving average price is $1.76 and its 200 day moving average price is $2.50. Neonode has a 52 week low of $1.34 and a 52 week high of $29.90. The company has a market cap of $23.50 million, a P/E ratio of -4.38 and a beta of 0.81.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new position in shares of Neonode during the 4th quarter worth approximately $159,000. Jain Global LLC acquired a new stake in Neonode during the 4th quarter valued at $59,000. State Street Corp increased its position in Neonode by 17.0% during the fourth quarter. State Street Corp now owns 249,104 shares of the electronics maker’s stock worth $433,000 after buying an additional 36,244 shares in the last quarter. Deutsche Bank AG increased its position in Neonode by 146.2% during the fourth quarter. Deutsche Bank AG now owns 42,779 shares of the electronics maker’s stock worth $74,000 after buying an additional 25,401 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Neonode in the fourth quarter worth $53,000. 11.63% of the stock is owned by hedge funds and other institutional investors.

Neonode Company Profile

Neonode AB (NASDAQ: NEON) is a technology company specializing in optical-based user interface solutions for electronic devices. The company develops sensor and software platforms that allow touch, gesture and hover interactions through the projection and detection of infrared light. Neonode’s offerings are designed to enable intuitive, reliable and low-power human-machine interfaces across a variety of device categories.

At the core of Neonode’s portfolio are its zForce and Neonode software products, which can be integrated into consumer electronics, automotive systems, home appliances, industrial equipment and Internet of Things applications.