NEW YORK (TheStreet) -- Shares of touch screen technology company Neonode (NEON) continue to rise, up 5.94% to $3.26, in morning trading Wednesday after analysts at Cowen said Tuesday the company's expected debut of a touch technology for PC products at the Consumer Electronics Show (CES) in January could provide a significant boost to the stock.
The Stockholm-based Neonode and fellow Swedish company Autoliv (ALV) , which supplies safety systems for automobiles, will premiere the first joint concept "zForce DRIVE - Active Sensor Steering Wheel" at CES. The wheel is based on Neonode zForce AIR technology.
"The market is on the precipice of a 'touch' paradigm shift, and I believe our latest Touch technologies will be a key enabler of touch devices within the PC and Automotive markets," Neonode CEO Thomas Eriksson said in a statement issued December 15.
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The Consumer Electronics Show 2015 takes place from January 6-9 in Las Vegas.
More than 1.2 million shares had changed hands as of 10:12 a.m., compared to the daily average volume of 338,644.
Separately, TheStreet Ratings team rates NEONODE INC as a "sell" with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEONODE INC (NEON) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."