Neonode Inc. (NASDAQ:NEON) Sees Significant Increase in Short Interest

Neonode Inc. (NASDAQ:NEON) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 635,800 shares, a growth of 201.2% from the August 15th total of 211,100 shares. Based on an average daily volume of 519,500 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Neonode in a research note on Friday, June 14th. They issued a “sell” rating for the company.

Neonode Stock Performance

Shares of NEON stock traded up $0.91 during mid-day trading on Thursday, reaching $8.14. The company’s stock had a trading volume of 676,134 shares, compared to its average volume of 229,884. The firm’s 50-day moving average is $4.00 and its two-hundred day moving average is $2.65. Neonode has a 1-year low of $1.02 and a 1-year high of $8.75. The company has a market cap of $125.02 million, a P/E ratio of -11.46 and a beta of 1.88.

Neonode (NASDAQ:NEON) last announced its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.11) 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.

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.