Neonode Inc. (NASDAQ:NEON) Short Interest Update

Neonode Inc. (NASDAQ:NEON) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 380,060 shares, a decline of 40.0% from the June 15th total of 633,082 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average trading volume of 437,512 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On Neonode

Several large investors have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in Neonode in the 2nd quarter valued at $29,000. Russell Investments Group Ltd. acquired a new stake in shares of Neonode during the third quarter valued at about $34,000. BNP Paribas Financial Markets increased its holdings in Neonode by 238.9% in the 2nd 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 during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Neonode in the fourth quarter valued at $53,000. Finally, Jain Global LLC acquired a new stake in shares of Neonode during the fourth quarter worth about $59,000. 11.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NEON shares. Wall Street Zen raised Neonode to a “sell” rating in a research note on Saturday, July 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Neonode in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Neonode presently has a consensus rating of “Reduce” and a consensus price target of $6.00.

Neonode Trading Up 3.0%

Shares of NEON stock traded up $0.03 on Friday, reaching $0.89. The company’s stock had a trading volume of 73,402 shares, compared to its average volume of 168,469. The stock’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.55. Neonode has a 1 year low of $0.72 and a 1 year high of $29.90. The company has a market capitalization of $14.87 million, a price-to-earnings ratio of -2.77 and a beta of 1.06.

Neonode (NASDAQ:NEON) last announced its quarterly earnings data on Wednesday, May 13th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Neonode had a negative return on equity of 34.66% and a net margin of 386.64%.The firm had revenue of $0.61 million during the quarter, compared to the consensus estimate of $0.66 million.

Neonode Company Profile

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.