Neonc Technologies (NASDAQ:NTHI) Stock Rating Raised to “Hold” at Zacks Research

Neonc Technologies (NASDAQ:NTHI) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

Other analysts have also recently issued reports about the stock. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price target on shares of Neonc Technologies in a report on Tuesday, September 8th. Weiss Ratings lowered Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 21st. Wall Street Zen upgraded Neonc Technologies from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Roth Capital initiated coverage on shares of Neonc Technologies in a research note on Thursday, September 24th. They issued a “buy” rating for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Neonc Technologies Stock Up 9.1%

Shares of NTHI stock opened at $3.49 on Thursday. The stock has a fifty day moving average price of $3.33 and a 200 day moving average price of $5.38. Neonc Technologies has a 1 year low of $2.50 and a 1 year high of $12.00.

Neonc Technologies (NASDAQ:NTHI) last announced its earnings results on Thursday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03).

Insider Activity at Neonc Technologies

In related news, CEO Thomas C. Chen purchased 12,757 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $5.49 per share, with a total value of $70,035.93. Following the completion of the acquisition, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at approximately $75,240.45. The trade was a 1,345.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amir F. Heshmatpour bought 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $3.30 per share, with a total value of $115,500.00. Following the transaction, the chief executive officer owned 3,183,000 shares of the company’s stock, valued at $10,503,900. The trade was a 1.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 134,812 shares of company stock valued at $530,149.

Hedge Funds Weigh In On Neonc Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTHI. Bank of America Corp DE increased its holdings in Neonc Technologies by 5.0% in the first quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock valued at $1,650,000 after purchasing an additional 11,108 shares during the period. Westmount Partners LLC lifted its position in shares of Neonc Technologies by 355.2% during the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock worth $893,000 after buying an additional 153,858 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Neonc Technologies during the second quarter worth about $815,000. Finally, Global Retirement Partners LLC purchased a new stake in Neonc Technologies in the 2nd quarter worth about $126,000.

About Neonc Technologies