Neonode Inc. (NASDAQ:NEON) stock observed trading -46.32% off 52-week high price. On the other end, the stock has been noted 87.16% away from low price over the last 52-weeks. The stock disclosed a move of -12.52% away from 50 day moving average and -13.38% away from 200 day moving average. Moving closer, we can see that shares have been trading -9.78% off 20-day moving average. It has market cap of $18.46M.
On March 11, 2020, Neonode Inc. (NASDAQ:NEON) the optical interactive sensing technology company, disclosed financial results for the fiscal year ended December 31, 2019.
FINANCIAL SUMMARY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2019:
- Revenue of $6.6 million, a decrease of 22.2% compared to prior year
- Operating expenses of $11.7 million, an increase of 1.7% over the prior year
- Net loss attributable to Neonode of $5.3 million, or $0.60 per share compared to $3.1 million, or $0.52 per share for prior year
- Cash used by operations of $3.5 million compared to $2.9 million for prior year
THE BOARD OF DIRECTOR’S CHAIRMAN SUMMARY
New Executive Leadership
The 2019 financial results are below our expectations. The addition of Urban Forssell as our CEO gives the company experienced top level leadership to take the company to profitability.
- Throughout his career as a CEO and senior management Dr. Forssell successfully managed sales and engineering operations of technology-based products companies.
- Forssell also brings a deep understanding of the automotive and other markets.
- The company’s ability to convert the strong customer interest into revenue generating contracts is key moving forward.
The Sweden based company Neonode Inc. moved with change of 10.87% to $2.04 with the total traded volume of 74583 shares in recent session versus to an average volume of 30.46K shares. The stock was observed in the 5 days activity at -5.12%. The one month performance of stock was -20.62%. NEON’s shares are at 51.11% for the quarter and driving a -23.31% return over the course of the past year and is now at 5.15% since this point in 2018. Right now the stock beta is 0.95. The average volatility for the week and month was at 9.83% and 8.66% respectively. There are 9.05M shares outstanding and 5.07M shares are floated in market.