Neonode (NASDAQ:NEON) Now Covered by StockNews.com

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

Neonode Stock Up 2.9 %

NEON stock opened at $1.40 on Tuesday. Neonode has a 52-week low of $1.02 and a 52-week high of $8.97. The stock’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $1.59. The stock has a market capitalization of $21.50 million, a price-to-earnings ratio of -2.12 and a beta of 2.05.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Neonode by 15.8% in the 3rd quarter. Vanguard Group Inc. now owns 140,915 shares of the electronics maker’s stock worth $225,000 after buying an additional 19,245 shares during the period. BlackRock Inc. raised its position in Neonode by 32.7% in the second quarter. BlackRock Inc. now owns 124,431 shares of the electronics maker’s stock valued at $1,005,000 after purchasing an additional 30,667 shares during the period. Geode Capital Management LLC raised its position in Neonode by 10.0% in the second quarter. Geode Capital Management LLC now owns 97,444 shares of the electronics maker’s stock valued at $787,000 after purchasing an additional 8,884 shares during the period. Renaissance Technologies LLC purchased a new position in Neonode in the first quarter valued at about $502,000. Finally, Susquehanna International Group LLP purchased a new position in Neonode in the fourth quarter valued at about $288,000. 11.63% of the stock is owned by hedge funds and other institutional investors.

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.