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

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

Neonode Stock Up 2.9 %

NASDAQ NEON opened at $1.40 on Tuesday. The stock’s 50-day moving average price is $1.55 and its 200-day moving average price is $1.59. The company has a market capitalization of $21.50 million, a P/E ratio of -2.12 and a beta of 2.05. Neonode has a 52 week low of $1.02 and a 52 week high of $8.97.

Neonode (NASDAQ:NEON) 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 net margin of 227.53% and a negative return on equity of 44.82%.

Hedge Funds Weigh In On Neonode

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Neonode by 1,297.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the electronics maker’s stock valued at $34,000 after buying an additional 4,177 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Neonode in the 2nd quarter worth approximately $55,000. Bank of America Corp DE purchased a new position in shares of Neonode in the 4th quarter worth approximately $98,000. Dimensional Fund Advisors LP boosted its holdings in shares of Neonode by 121.0% in 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 during the period. Finally, State Street Corp boosted its holdings in shares of Neonode by 14.3% in the 1st quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock worth $130,000 after purchasing an additional 2,680 shares during the period. Hedge funds and other institutional investors 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.