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

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

Neonode Price Performance

NASDAQ:NEON opened at $1.40 on Tuesday. Neonode has a 1 year low of $1.02 and a 1 year high of $8.97. The stock’s 50 day simple moving average is $1.55 and its two-hundred day simple moving average is $1.59. The company has a market cap of $21.50 million, a price-to-earnings ratio of -2.12 and a beta of 2.05.

Neonode (NASDAQ:NEON) last released its quarterly earnings data on Wednesday, February 28th. The electronics maker reported ($0.39) earnings per share (EPS) for the quarter. Neonode had a negative return on equity of 44.82% and a negative net margin of 227.53%. The firm had revenue of $0.99 million during the quarter.

Hedge Funds Weigh In On Neonode

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 4,177 shares during the last quarter. Virtu Financial LLC purchased a new position in Neonode during the 2nd quarter valued at $55,000. Bank of America Corp DE purchased a new position in Neonode during the 4th quarter valued at $98,000. Dimensional Fund Advisors LP boosted its holdings in Neonode by 121.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 28,402 shares of the electronics maker’s stock valued at $99,000 after acquiring an additional 15,553 shares during the period. Finally, State Street Corp boosted its holdings in Neonode by 14.3% during the 1st 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 during the period. Institutional investors own 11.63% of the company’s stock.

Neonode Company Profile

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.