Neonode (NASDAQ:NEON) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Neonode (NASDAQ:NEON) from a hold rating to a sell rating in a research note published on Thursday morning.

Neonode Trading Down 1.3%

Shares of NASDAQ:NEON opened at $9.75 on Thursday. The stock has a market capitalization of $163.63 million, a PE ratio of -13.73 and a beta of 0.45. Neonode has a 1 year low of $1.90 and a 1 year high of $15.00. The firm has a fifty day moving average price of $9.59 and a 200 day moving average price of $8.66.

Neonode (NASDAQ:NEON) last released its quarterly earnings results on Wednesday, May 14th. The electronics maker reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The firm had revenue of $0.51 million during the quarter, compared to the consensus estimate of $0.65 million. Neonode had a negative net margin of 252.78% and a negative return on equity of 67.67%. On average, sell-side analysts forecast that Neonode will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neonode

A number of hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Neonode by 654.4% during the 4th quarter. Northern Trust Corp now owns 158,709 shares of the electronics maker’s stock worth $1,306,000 after purchasing an additional 137,671 shares during the last quarter. Geode Capital Management LLC increased its position in Neonode by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker’s stock worth $1,125,000 after buying an additional 10,732 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Neonode during the first quarter worth approximately $393,000. Jane Street Group LLC boosted its position in shares of Neonode by 137.1% in the first quarter. Jane Street Group LLC now owns 47,320 shares of the electronics maker’s stock valued at $385,000 after acquiring an additional 27,358 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Neonode in the first quarter worth $234,000. 11.63% of the stock is currently owned by institutional investors.

Neonode Company Profile

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, Germany, Switzerland, France, Sweden, China, and internationally. It also offers software solutions for machine perception to detect and track persons and objects in video streams from cameras and other types of imagers.