Neonode (NASDAQ:NEON) Coverage Initiated by Analysts at StockNews.com

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

Neonode Stock Performance

Shares of NEON opened at $1.31 on Tuesday. Neonode has a 52-week low of $1.02 and a 52-week high of $8.97. The business’s 50 day moving average price is $1.57 and its two-hundred day moving average price is $1.59. The firm has a market cap of $20.12 million, a PE ratio of -1.98 and a beta of 2.05.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NEON. Renaissance Technologies LLC purchased a new stake in shares of Neonode in the first quarter valued at about $502,000. Susquehanna International Group LLP purchased a new stake in shares of Neonode in the fourth quarter valued at about $288,000. Investor AB raised its holdings in shares of Neonode by 821.4% in the second quarter. Investor AB now owns 34,774 shares of the electronics maker’s stock valued at $277,000 after purchasing an additional 31,000 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Neonode by 32.7% in the second quarter. BlackRock Inc. now owns 124,431 shares of the electronics maker’s stock valued at $1,005,000 after purchasing an additional 30,667 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Neonode by 28.6% in the first quarter. Geode Capital Management LLC now owns 88,560 shares of the electronics maker’s stock valued at $674,000 after purchasing an additional 19,678 shares during the last quarter. 11.63% of the stock is owned by institutional investors.

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.