Stock News in Focus: Neonode Inc. (NASDAQ:NEON)

Sarah Gleason

Neonode Inc. (NASDAQ:NEON) stock identified change of 101.53% away from 52-week low price and recently located move of -44.42% off 52-week high price. It has market worth of $24.1M. NEON stock has been recorded -6.10% away from 50 day moving average and -0.71% away from 200 day moving average. Moving closer, we can see that shares have been trading -6.93% off 20-day moving average.

On Aug. 14, 2019, Neonode Inc. (NASDAQ:NEON) the optical interactive sensing technology company, notified financial results for the three and six months ended June 30, 2019.

We are growing our global sales presence and partner network and have successfully promoted our selected use cases to customers and at numerous trade shows. In addition, we have released updated versions of our product offerings improving our competitive position. These activities have resulted in an increased number of on-going customer discussions and evaluations. I am confident that we have created a foundation that will allow us to achieve future revenue growth and profitability, said Håkan Persson, CEO of Neonode Inc.

FINANCIAL SUMMARY FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2019

•           Net sales totaled $1.7 million and $3.7 million for the three and six months ended June 30, 2019 compared to $1.9 million and $4.3 million, respectively, for the same periods last year.

•           Net loss totaled $1.3 million and $1.8 million for the three and six months ended June 30, 2019 compared to a net loss of $1.0 million and $1.7 million, respectively, for the same periods last year.

•           Loss per share totaled $0.14 and $0.21 for the three and six months ended June 30, 2019 compared to a loss per share of $0.16 and $0.28, respectively, for the same periods last year.

•           Net cash used in operating activities totaled $1.5 million for the six months ended June 30, 2019 compared to $1.4 million for the same period last year.

 The Technology sector company, Neonode Inc. noticed change of -11.41% to $2.64 along volume of 22777 shares in recent session compared to an average volume of 14.68K. The stock observed return of -6.05% in 5 days trading activity. The stock was at -8.01% over one month performance. NEON’s shares are at -20.00% for the quarter and driving a -24.54% return over the course of the past year and is now at 59.04% since this point in 2018. 

 The average volatility for the week at 7.26% and for month was at 5.41%. There are 9.13M shares outstanding and 5.08M shares are floated in market. Right now the stock beta is 1.29. 

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