Neonode (NASDAQ:NEON) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Neonode (NASDAQ:NEONGet Free Report) in a report released on Wednesday. The brokerage set a “hold” rating on the electronics maker’s stock.

Neonode Trading Down 7.7 %

NASDAQ NEON opened at $1.44 on Wednesday. The company has a fifty day simple moving average of $1.52 and a two-hundred day simple moving average of $1.58. The stock has a market cap of $22.12 million, a P/E ratio of -2.18 and a beta of 2.04. Neonode has a 12-month low of $1.02 and a 12-month high of $8.97.

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

Hedge Funds Weigh In On Neonode

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Neonode by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 68,882 shares of the electronics maker’s stock valued at $378,000 after acquiring an additional 1,604 shares during the period. State Street Corp grew its holdings in shares of Neonode by 14.3% in the first quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock valued at $130,000 after purchasing an additional 2,680 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Neonode by 4.2% in the third quarter. Vanguard Group Inc. now owns 85,642 shares of the electronics maker’s stock valued at $299,000 after purchasing an additional 3,432 shares in the last quarter. Tower Research Capital LLC TRC grew 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 in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Neonode in the second quarter valued at approximately $55,000. 11.63% of the stock is currently owned by institutional investors and hedge funds.

About Neonode

(Get Free Report)

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.

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