Neonode Inc (NEON)

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Neonode $NEON was upgraded by Zacks from a “sell” rating to a “hold” rating in a report issued on Wednesday, AnalystRatingsNetwork.com reports.

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. “

Neonode (NASDAQ:NEON) traded up 4.17% during midday trading on Wednesday, reaching $2.75. The company’s stock had a trading volume of 478,067 shares. The stock’s 50-day moving average price is $2.89 and its 200-day moving average price is $3.29. Neonode has a 12 month low of $1.72 and a 12 month high of $4.83. The firm’s market capitalization is $111.44 million.

Neonode (NASDAQ:NEON) last released its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, topping the analysts’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $2.80 million for the quarter, compared to analyst estimates of $2.72 million. Analysts predict that Neonode will post ($0.09) EPS for the current year.

In related news, CFO Lars Goran Lindqvist purchased 10,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $2.60 per share, with a total value of $26,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Per Ivar Gosta Bystedt purchased 20,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was bought at an average cost of $3.01 per share, for a total transaction of $60,200.00. The disclosure for this purchase can be found here.

A number of other equities research analysts also recently weighed in on NEON. Ascendiant Capital Markets reaffirmed a “buy” rating and set a $7.00 price objective on shares of Neonode in a report on Saturday, May 9th. Cowen and Company reiterated an “outperform” rating and issued a $10.00 target price on shares of Neonode in a research note on Friday, August 7th.

Neonode Inc., is a technologies and solutions company. The Company is engaged in development and license user interfaces and optical infrared touch technology. The Company provides Touch Technology and Solutions to the customers. Touch Technology, is a various technologies for touchscreen and touch-enabled surfaces available in the market with differing profiles, power consumption, level of maturity, and cost. The main types of touchscreen technologies available include: Capacitive technology, technology used in the Apple iPhone, and Resistive technology, technology used in automatic teller machines. Solution, provides Optical Infrared and Controller Chips. Optical Infrared, develops user interfaces and optical infrared touch solutions. Controller Chips, provides NN1001 and NN1002 controller chips designed to simplify integration, reduce cost, and increase performance.

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