Initiates Coverage on Neonode (NASDAQ:NEON)

Stock analysts at initiated coverage on shares of Neonode (NASDAQ:NEONGet Rating) in a note issued to investors on Tuesday. The firm set a “sell” rating on the electronics maker’s stock.

Neonode Trading Down 1.3 %

NASDAQ NEON opened at $4.54 on Tuesday. Neonode has a twelve month low of $3.70 and a twelve month high of $12.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.44 and a current ratio of 7.78. The stock has a market cap of $61.64 million, a price-to-earnings ratio of -9.08 and a beta of 2.22. The firm’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $5.34.

Neonode (NASDAQ:NEONGet Rating) last posted its quarterly earnings data on Wednesday, May 11th. The electronics maker reported ($0.10) earnings per share for the quarter. Neonode had a negative return on equity of 46.65% and a negative net margin of 114.08%. The firm had revenue of $1.32 million for the quarter.

Hedge Funds Weigh In On Neonode

An institutional investor recently raised its position in Neonode stock. State Street Corp grew its stake in shares of Neonode Inc. (NASDAQ:NEONGet Rating) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,411 shares of the electronics maker’s stock after acquiring an additional 2,680 shares during the period. State Street Corp owned 0.16% of Neonode worth $130,000 as of its most recent SEC filing. Institutional investors and hedge funds own 17.86% of the company’s stock.

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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