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Neonode (NEON) Crumbles: Stock Falls by 11.1%

Zacks Equity Research

Neonode, Inc. (NEON) saw a big move last session, as the company’s shares fell by over 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for NEON, as the stock is now down more than 37% in the past one-month time frame. 

This slump shouldn’t be too much of a surprise to investors, as the company has seen 1 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.

NEON currently has a Zacks Rank #4 (Sell) while its Earnings ESP is -22.2%.

Some better-ranked stocks in the services sector include Advent Software, Inc. (ADVS), Aspen Technology, Inc. (AZPN) and Autodesk, Inc. (ADSK). All these stocks carry a Zacks Rank #2 (Buy).   

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NEONODE INC (NEON): Free Stock Analysis Report

ADVENT SOFTWARE INC (ADVS): Free Stock Analysis Report

ASPEN TECH INC (AZPN): Free Stock Analysis Report

AUTODESK INC (ADSK): Free Stock Analysis Report

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