Neonode Inc. (NASDAQ:NEON) Short Interest Down 19.8% in October

Neonode Inc. (NASDAQ:NEON) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 825,700 shares, a decrease of 19.8% from the September 30th total of 1,030,000 shares. Based on an average daily volume of 669,100 shares, the days-to-cover ratio is presently 1.2 days.

Analyst Ratings Changes

A number of brokerages recently weighed in on NEON. StockNews.com upgraded Neonode to a “sell” rating in a research report on Friday. LADENBURG THALM/SH SH initiated coverage on shares of Neonode in a report on Friday, October 18th. They issued a “buy” rating and a $16.50 price objective for the company.

Neonode Trading Up 2.4 %

NEON stock traded up $0.19 during midday trading on Friday, hitting $8.05. The stock had a trading volume of 137,083 shares, compared to its average volume of 283,548. The firm has a market cap of $124.53 million, a P/E ratio of -11.18 and a beta of 1.89. The business has a fifty day moving average price of $7.96 and a two-hundred day moving average price of $4.33. Neonode has a 1-year low of $1.02 and a 1-year high of $15.00.

Neonode (NASDAQ:NEON) last announced its earnings results on Thursday, August 8th. The electronics maker reported ($0.11) EPS for the quarter. The business had revenue of $1.42 million for the quarter. Neonode had a negative net margin of 247.41% and a negative return on equity of 64.05%. On average, equities analysts anticipate that Neonode will post -0.48 EPS for the current year.

About Neonode

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, Germany, Switzerland, France, Sweden, China, and internationally. It also offers software solutions for machine perception to detect and track persons and objects in video streams from cameras and other types of imagers.