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

Stock analysts at StockNews.com started coverage on shares of Neonode (NASDAQ:NEON) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the electronics maker’s stock.

Neonode Stock Performance

Shares of NASDAQ:NEON opened at $1.63 on Friday. The company has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $1.57. The stock has a market capitalization of $25.04 million, a price-to-earnings ratio of -2.47 and a beta of 2.04. Neonode has a one year low of $1.02 and a one year high of $8.97.

Neonode (NASDAQ:NEON) last announced its earnings results on Wednesday, February 28th. The electronics maker reported ($0.39) earnings per share for the quarter. The company 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 Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position 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 worth $34,000 after purchasing an additional 4,177 shares during the period. Virtu Financial LLC purchased a new stake in shares of Neonode in the second quarter valued at approximately $55,000. Bank of America Corp DE acquired a new position in Neonode during the fourth quarter worth $98,000. State Street Corp raised its position in Neonode by 14.3% in the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Neonode by 121.0% in the third quarter. Dimensional Fund Advisors LP now owns 28,402 shares of the electronics maker’s stock worth $99,000 after acquiring an additional 15,553 shares in the last quarter. 11.63% of the stock is currently owned by institutional investors and hedge funds.

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.