Neonode (NASDAQ:NEON) Rating Lowered to Sell at 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. “

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Separately, Cowen restated a “buy” rating and issued a $1.00 price objective on shares of Neonode in a research note on Friday, March 9th.

NASDAQ NEON remained flat at $$0.44 on Wednesday. The company had a trading volume of 53,474 shares, compared to its average volume of 243,665. The company has a market capitalization of $25.49, a P/E ratio of -4.83 and a beta of 1.07. The company has a quick ratio of 2.41, a current ratio of 2.73 and a debt-to-equity ratio of 0.21. Neonode has a fifty-two week low of $0.37 and a fifty-two week high of $1.80.

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

In related news, Director Ulf Rosberg purchased 421,396 shares of Neonode stock in a transaction that occurred on Wednesday, March 21st. The shares were acquired at an average price of $0.43 per share, with a total value of $181,200.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.90% of the company’s stock.

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Neonode Company Profile

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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