Neonode Inc. (NEON) Stock Price Hits 52 Week Low Today

March 23, 2018 - By Graig Alexander

Investors sentiment increased to 1.43 in 2017 Q3. Its up 0.70, from 0.73 in 2017Q2. It increased, as 3 investors sold Neonode Inc. shares while 4 reduced holdings. 6 funds opened positions while 4 raised stakes. 8.44 million shares or 1.98% less from 8.61 million shares in 2017Q2 were reported.
Citadel Advisors Limited Liability holds 16,364 shares. Menta Cap Llc invested 0.02% in Neonode Inc. (NASDAQ:NEON). Financial Bank Of Montreal Can stated it has 7,200 shares. Bank & Trust Of America De holds 0% of its portfolio in Neonode Inc. (NASDAQ:NEON) for 6 shares. Awm Investment Company has invested 0.69% in Neonode Inc. (NASDAQ:NEON). Moreover, Citigroup has 0% invested in Neonode Inc. (NASDAQ:NEON) for 1 shares. Vanguard Grp Inc Inc reported 1.45 million shares. Schwab Charles Mngmt holds 0% or 31,951 shares in its portfolio. Virtu Fincl Ltd Limited Liability Company owns 13,592 shares. Retail Bank Of Mellon Corp holds 0% or 28,873 shares. Next Financial Group has invested 0% in Neonode Inc. (NASDAQ:NEON). Royal National Bank & Trust Of Canada holds 0% or 35 shares. Northern Tru accumulated 81,611 shares. Susquehanna Int Limited Liability Partnership owns 16,819 shares. Thompson Davis holds 8 shares.

The stock of Neonode Inc. (NASDAQ:NEON) hit a new 52-week low and has $0.43 target or 7.00 % below today’s $0.47 share price. The 7 months bearish chart indicates high risk for the $27.38 million company. The 1-year low was reported on Mar, 23 by If the $0.43 price target is reached, the company will be worth $1.92 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 7.40% or $0.0322 during the last trading session, reaching $0.4672. About 533,994 shares traded or 80.14% up from the average. Neonode Inc. (NASDAQ:NEON) has declined 22.81% since March 23, 2017 and is downtrending. It has underperformed by 39.51% the S&P500.

Analysts await Neonode Inc. (NASDAQ:NEON) to report earnings on May, 8. They expect $-0.02 earnings per share, 0.00 % or $0.00 from last year’s $-0.02 per share. After $-0.03 actual earnings per share reported by Neonode Inc. for the previous quarter, Wall Street now forecasts -33.33 % EPS growth.

Neonode Inc. (NASDAQ:NEON) Ratings Coverage

Among 4 analysts covering Neonode (NASDAQ:NEON), 2 have Buy rating, 1 Sell and 1 Hold. Therefore 50% are positive. Neonode had 6 analyst reports since August 7, 2015 according to SRatingsIntel. The rating was downgraded by Zacks on Tuesday, September 22 to “Sell”. The stock of Neonode Inc. (NASDAQ:NEON) has “Hold” rating given on Thursday, August 10 by Craig Hallum. The stock has “Sell” rating by Zacks on Tuesday, August 25. The firm has “Buy” rating given on Friday, November 10 by Cowen & Co. The rating was maintained by Cowen & Co on Friday, March 9 with “Buy”. The firm has “Buy” rating given on Friday, August 7 by Ascendiant Capital Markets.

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 has market cap of $27.38 million. The firm develops optical touch and gesture solutions for human interaction with devices. It currently has negative earnings. It licenses its multi-touch technology to original equipment manufacturers and Tier 1 suppliers, who incorporate it into devices they develop, manufacture, and sell, including automotive, as well as in consumer electronics, such as printers and office equipment, e-readers, and tablets.

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