Neonode (NASDAQ:NEON) Releases Earnings Results, Misses Expectations By $0.01 EPS

by · The Cerbat Gem

Neonode (NASDAQ:NEON – Get Free Report) released its earnings results on Wednesday. The electronics maker reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01), FiscalAI reports. Neonode had a negative return on equity of 35.25% and a net margin of 386.64%.The company had revenue of $0.61 million during the quarter, compared to analysts’ expectations of $0.66 million.

Neonode Stock Performance

Shares of NASDAQ:NEON traded down $0.09 during midday trading on Friday, reaching $1.64. 57,333 shares of the company’s stock traded hands, compared to its average volume of 126,151. The company has a market cap of $27.57 million, a price-to-earnings ratio of -5.15 and a beta of 1.00. Neonode has a one year low of $1.27 and a one year high of $29.90. The stock has a 50 day moving average of $1.55 and a 200 day moving average of $1.89.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Neonode from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Neonode presently has an average rating of “Reduce” and an average price target of $6.00.

Get Our Latest Research Report on NEON

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc bought a new position in shares of Neonode during the second quarter valued at $29,000. BNP Paribas Financial Markets lifted its holdings in shares of Neonode by 238.9% during the second quarter. BNP Paribas Financial Markets now owns 1,820 shares of the electronics maker’s stock valued at $46,000 after purchasing an additional 1,283 shares in the last quarter. New York State Common Retirement Fund bought a new position in shares of Neonode during the second quarter valued at $125,000. JPMorgan Chase & Co. bought a new position in shares of Neonode during the second quarter valued at $127,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Neonode in the second quarter valued at about $147,000. 11.63% of the stock is owned by institutional investors.

Neonode Company Profile

(Get Free Report)

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.

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