StockNews.com Initiates Coverage on Neonode (NASDAQ:NEON)

StockNews.com assumed coverage on shares of Neonode (NASDAQ:NEON – Get Rating) in a report released on Sunday. The brokerage set a “sell” rating on the electronics maker’s stock.

NASDAQ NEON opened at $4.34 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.78 and a quick ratio of 6.44. The firm’s fifty day moving average price is $5.20 and its 200 day moving average price is $6.67. The company has a market capitalization of $58.94 million, a price-to-earnings ratio of -8.68 and a beta of 2.36. Neonode has a 12 month low of $3.70 and a 12 month high of $12.42.

Neonode (NASDAQ:NEON – Get Rating) last posted its earnings results on Thursday, March 10th. The electronics maker reported ($0.11) EPS for the quarter. Neonode had a negative net margin of 114.08% and a negative return on equity of 46.65%. The company had revenue of $1.49 million during the quarter.

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in Neonode during the 4th quarter worth $564,000. Geode Capital Management LLC boosted its holdings in shares of Neonode by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 46,025 shares of the electronics maker’s stock valued at $407,000 after acquiring an additional 4,702 shares in the last quarter. State Street Corp boosted 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 acquiring an additional 2,680 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Neonode by 69.7% in the fourth quarter. Northern Trust Corp now owns 17,337 shares of the electronics maker’s stock valued at $153,000 after acquiring an additional 7,118 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Neonode in the fourth quarter valued at about $133,000. 17.86% of the stock is currently owned by institutional investors.

About Neonode (Get Rating)

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, China, and internationally. It also offers software solutions for scene analysis using advanced machine learning algorithms to detect and track persons and objects in video streams for cameras and other types of imagers.

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