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- 1 NEON stock price is following bearish sentiments since the last 1 year, which took its price towards the oversold zone.
- 2 The long-run bearish trend followed by NEON stock represents the weakened interest of investors in Neonode Inc.
Neonode (NEON) stock price showing a bearish outlook since the last 1-year indicates nearly 13% of price decline. In its year-to-date (YTD) price analysis, NEON share price showed little increase in its price drop with over 17% of the decline. It can also be noted that in the last 1 month, NEON stock price noted over 42% of decline. This decline is almost similar to its most recent week’s performance.
NEON Stock Price Analysis
From the beginning of this week, NEON stock price started accumulating bears that dropped its price which is currently resting in its oversold zone. On July 11, 2023, Tuesday, NEON stock price opened at $4.90, giving a high at $4.94 while low was $4.30. The closing price of NEON shares was at $4.53 which showed over 4% of price decline, as per the data sourced from Tradingview, a web-based social network for traders.
As the above price chart shows, the pre-market price of NEON stock is at $4.46 which further shows a decline in its share price. As the bears have shown their dominance in the market, it can be assumed that NEON share price will experience a more bearish trend in its upcoming trading session.
Furthermore, the bearish trend of NEON stock may also take its price near to its 52-week low if the bears continued their current performance. It must be noted that in late August NEON share price marked its 52-week low at $3.30.
The Financial Reports of Neonode
Neonode Inc. (NASDAQ: NEON), a Sweden-based company, reported its first quarter (Q1) 2023 reports on May 11, 2023. According to the report, the net income of Q1 2023 is negative $1.43 Million. The company reported earnings per share (EPS) is negative $0.09 while the reported revenue is $1.30 Million. For upcoming quarterly (Q2) 2023 reports, the revenue is estimated to reach $1.50 Million.
For the last year, the revenue of Neonode Inc. amounted to $5.70 Million, most of which, around $2.92 Million came from its highest performing source at the moment, Consumer Electronics. The greatest contribution to the revenue figure was made by the U.S. last year it brought Neonode Inc. to $1.84 Million.
It can also be seen that in the last three years, the revenue of Neonode Inc. dropped 1.5% per year. This further pointed out that its revenue is moving in a quite wrong direction.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
