Neonode Inc. (NASDAQ:NEON) Short Interest Update

Neonode Inc. (NASDAQ:NEON) saw a large decrease in short interest in June. As of June 30th, there was short interest totaling 380,060 shares, a decrease of 40.0% from the June 15th total of 633,082 shares. Currently, 2.9% of the company’s stock are sold short. Based on an average trading volume of 437,512 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEON shares. Wall Street Zen upgraded 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 research note on Tuesday, June 16th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Neonode presently has an average rating of “Reduce” and an average price target of $6.00.

Neonode Price Performance

Shares of NASDAQ NEON traded down $0.00 during mid-day trading on Thursday, hitting $0.86. The company’s stock had a trading volume of 23,963 shares, compared to its average volume of 168,911. The company’s fifty day simple moving average is $1.32 and its 200-day simple moving average is $1.56. Neonode has a one year low of $0.72 and a one year high of $29.90. The stock has a market cap of $14.43 million, a price-to-earnings ratio of -2.69 and a beta of 1.06.

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

Institutional Investors Weigh In On Neonode

Several large investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in shares of Neonode during the 2nd quarter worth approximately $29,000. BNP Paribas Financial Markets increased its position in Neonode by 238.9% during the second quarter. BNP Paribas Financial Markets now owns 1,820 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 1,283 shares during the period. New York State Common Retirement Fund bought a new stake in Neonode in the 2nd quarter valued at about $125,000. JPMorgan Chase & Co. acquired a new position in shares of Neonode during the 2nd quarter worth approximately $127,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Neonode during the 2nd quarter worth $147,000. 11.63% of the stock is currently owned by institutional investors.

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.