Short Interest in Neonode Inc. (NASDAQ:NEON) Declines By 17.1%

Neonode Inc. (NASDAQ:NEON) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 527,000 shares, a decrease of 17.1% from the August 31st total of 635,800 shares. Based on an average daily volume of 668,100 shares, the short-interest ratio is currently 0.8 days.

Neonode Stock Performance

Shares of NASDAQ NEON traded up $0.19 during trading on Friday, reaching $9.84. The stock had a trading volume of 470,002 shares, compared to its average volume of 779,151. The business’s 50-day moving average price is $5.78 and its 200-day moving average price is $3.35. Neonode has a fifty-two week low of $1.02 and a fifty-two week high of $15.00. The company has a market cap of $152.22 million, a P/E ratio of -13.86 and a beta of 1.88.

Neonode (NASDAQ:NEON) last issued its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter. Neonode had a negative return on equity of 64.05% and a negative net margin of 247.41%. The business had revenue of $1.42 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Neonode in a report on Friday, June 14th. They issued a “sell” rating on the stock.

Neonode Company Profile

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.