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

Stock analysts at StockNews.com initiated coverage on shares of Neonode (NASDAQ:NEON) in a report issued on Friday. The brokerage set a “hold” rating on the electronics maker’s stock.

Neonode Trading Up 19.0 %

NASDAQ NEON opened at $1.63 on Friday. The company has a market cap of $25.04 million, a P/E ratio of -2.47 and a beta of 2.04. The company has a fifty day simple moving average of $1.45 and a 200 day simple moving average of $1.57. Neonode has a 12-month low of $1.02 and a 12-month high of $8.97.

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

Institutional Trading of Neonode

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEON. Geode Capital Management LLC boosted its position in shares of Neonode by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 68,882 shares of the electronics maker’s stock valued at $378,000 after buying an additional 1,604 shares during the last quarter. State Street Corp boosted its holdings in Neonode by 14.3% during the 1st quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock worth $130,000 after acquiring an additional 2,680 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Neonode by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 85,642 shares of the electronics maker’s stock worth $299,000 after acquiring an additional 3,432 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Neonode by 1,297.2% in the first quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Neonode during the second quarter valued at about $55,000. 11.63% of the stock is owned by 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.