Neonode (NASDAQ:NEON) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Neonode (NASDAQ:NEON) released its quarterly earnings data on Thursday. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02, FiscalAI reports. Neonode had a net margin of 397.84% and a negative return on equity of 32.35%. The company had revenue of $0.54 million during the quarter, compared to the consensus estimate of $0.88 million.

Neonode Stock Performance

Shares of Neonode stock traded down $0.08 during trading on Thursday, reaching $0.62. The company had a trading volume of 76,232 shares, compared to its average volume of 130,834. The firm’s fifty day moving average is $0.80 and its 200-day moving average is $1.22. Neonode has a fifty-two week low of $0.56 and a fifty-two week high of $2.48. The company has a market cap of $10.44 million, a price-to-earnings ratio of -1.98 and a beta of 1.82.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Neonode in a research note on Friday, September 11th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Neonode

Neonode Inc. (NASDAQ:NEON) is a Swedish technology company that develops optical sensing solutions for touch, gesture control and object detection. Its technology is designed to enable interactive interfaces without relying exclusively on conventional capacitive touchscreens or mechanical controls. The company’s products include zForce optical sensing modules and related software, which use infrared light to detect touch, hand movements and other interactions. Neonode provides these solutions for applications in automotive systems, consumer electronics, industrial equipment, office devices and other embedded products.