Neonode (NASDAQ: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 note issued to investors on Wednesday, March 14th.

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 restated a “buy” rating and issued a $1.00 target price on shares of Neonode in a research report on Friday, March 9th.

Shares of Neonode (NASDAQ:NEON) traded up $0.01 during trading on Wednesday, hitting $0.45. The stock had a trading volume of 925,367 shares, compared to its average volume of 367,936. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.41 and a current ratio of 2.73. Neonode has a fifty-two week low of $0.37 and a fifty-two week high of $1.80.

Neonode (NASDAQ:NEON) last announced its quarterly earnings results on Thursday, March 8th. The electronics maker reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $3.28 million for the quarter, compared to analyst estimates of $2.45 million. Neonode had a negative return on equity of 80.84% and a negative net margin of 45.94%. research analysts expect that Neonode will post -0.02 EPS for the current year.

In other Neonode news, Director Ulf Rosberg bought 421,396 shares of the stock in a transaction that occurred on Wednesday, March 21st. The shares were purchased at an average cost of $0.43 per share, for a total transaction of $181,200.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 14.90% of the stock is owned by company insiders.

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About Neonode

Neonode Inc, together with its subsidiaries, develops and licenses user interfaces and optical interactive touch solutions in the United States, Sweden, Japan, China, Germany, Taiwan, South Korea, Italy, and internationally. The company develops optical touch and gesture solutions for human interaction with devices.

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