Neonode (NASDAQ:NEON) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Neonode (NASDAQ:NEONGet Rating) in a report released on Sunday. The firm set a “sell” rating on the electronics maker’s stock.

Neonode Price Performance

NEON stock opened at $4.12 on Friday. The company’s 50 day simple moving average is $4.43 and its 200-day simple moving average is $5.09. The firm has a market capitalization of $55.95 million, a PE ratio of -8.77 and a beta of 2.29. Neonode has a 12 month low of $3.30 and a 12 month high of $12.42.

Hedge Funds Weigh In On Neonode

An institutional investor recently raised its position in Neonode stock. State Street Corp increased its position in shares of Neonode Inc. (NASDAQ:NEONGet Rating) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,411 shares of the electronics maker’s stock after buying an additional 2,680 shares during the period. State Street Corp owned about 0.16% of Neonode worth $130,000 at the end of the most recent reporting period. 13.32% of the stock is currently owned by institutional investors and hedge funds.

Neonode Company Profile

(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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