The Vanguard Group, Inc. recently announced the acquisition of new stake in Neonode Inc. (NASDAQ:NEON). The institutional investor has increased its shareholding in the Technology company by 4.32% to 82940.0 shares with purchase of 3432.0 shares. This fresh investment now brings its stake to 0.61% valued currently at $0.34 million. In addition, Geode Capital Management LLC raised its holdings by 6128.0 to 67278.0 shares. And Dimensional Fund Advisors LP has lifted its position by 121.04% or 15553.0 shares – to 28402.0 shares.
With over 0.45 million Neonode Inc. (NEON) shares trading Tuesday and a closing price of $6.90 on the day, the dollar volume was approximately $3.11 million. The shares have shown a positive half year performance of 38.83% and its price on 01/10/23 gained nearly 20.42%. Currently, there are 13.58M common shares owned by the public and among those 8.39M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for NEON have a consensus price objective of $8.50. The analysts have set the share’s price value over the next 12 months at a high of $8.50 and a low of $8.50. The average price target is 18.82% above its recent price level and an upside to the estimated low will see the stock gain 18.82% over that period. But an upside of 18.82% will see the stock hit the forecast high price target while median target price for the stock is $8.50.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 4,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Neonode Inc. are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Series Total Market Inde. Vanguard Extended Market Index Fu owns 86061.0 shares of the company’s stock, all valued at over $0.35 million. Fidelity Series Total Market Inde now owns shares totaling to 0.07% of the shares outstanding.
Shares of Neonode Inc. (NASDAQ: NEON) opened at $5.83, up $0.1 from a prior closing price of $5.73. However, the script later moved the day high at 7.09, up 20.42%. The company’s stock has a 5-day price change of 24.77% and 86.23% over the past three months. NEON shares are trading 25.45% year to date (YTD), with the 12-month market performance down to -11.99% lower. It has a 12-month low price of $3.30 and touched a high of $9.62 over the same period. NEON has an average intraday trading volume of 134.12K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 29.04%, 49.32%, and 43.75% respectively.
Institutional ownership of Neonode Inc. (NASDAQ: NEON) shares accounts for 3.50% of the company’s 13.58M shares outstanding. Mutual fund holders own 12.06%, while other institutional holders and individual stakeholders account for 40.40% and 1.38% respectively.
It has a market capitalization of $90.74M and a beta (3y monthly) value of 2.06. The earnings-per-share (ttm) stands at -$0.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.04% over the week and 7.72% over the month.
Analysts forecast that Neonode Inc. (NEON) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.2 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.14 a year ago. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 14.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Neonode Inc. (NEON) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NEON, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on November 11, 2020, with the firm’s price target at $12. Berenberg coverage for the Neonode Inc. (NEON) stock in a research note released on January 28, 2020 offered a Hold rating with a price target of $1.50. Ascendiant Capital Markets was of a view on August 07, 2015 that the stock is Buy, while Ascendiant Capital Markets gave the stock Buy rating on August 07, 2014, issuing a price target of $11.25- $7. Cantor Fitzgerald on their part issued Buy rating on June 08, 2012.