Neonode (NASDAQ:NEON) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Neonode (NASDAQ:NEON) in a research note released on Tuesday morning. The brokerage issued a hold rating on the electronics maker’s stock.

Neonode Stock Up 2.9 %

Shares of NEON stock opened at $1.40 on Tuesday. The stock has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $1.59. Neonode has a fifty-two week low of $1.02 and a fifty-two week high of $8.97. The stock has a market capitalization of $21.50 million, a P/E ratio of -2.12 and a beta of 2.05.

Neonode (NASDAQ:NEON) last announced its earnings results on Wednesday, February 28th. The electronics maker reported ($0.39) earnings per share for the quarter. Neonode had a negative net margin of 227.53% and a negative return on equity of 44.82%. The firm had revenue of $0.99 million for the quarter.

Institutional Trading of Neonode

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEON. State Street Corp grew its holdings in Neonode by 14.3% in the 1st quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock valued at $130,000 after buying an additional 2,680 shares during the last quarter. Virtu Financial LLC acquired a new stake in Neonode in the 2nd quarter valued at approximately $55,000. Dimensional Fund Advisors LP grew its holdings in shares of Neonode by 121.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 28,402 shares of the electronics maker’s stock worth $99,000 after purchasing an additional 15,553 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Neonode by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 85,642 shares of the electronics maker’s stock worth $299,000 after purchasing an additional 3,432 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Neonode during the 4th quarter worth approximately $98,000. Institutional investors and hedge funds own 11.63% of the company’s stock.

About Neonode

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, Switzerland, Germany, France, Sweden, China, and internationally. It also offers software solutions for machine perception to detect and track persons and objects in video streams from cameras and other types of imagers.