Neonode (NASDAQ:NEON) Research Coverage Started at StockNews.com

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

Neonode Stock Up 10.4 %

Neonode stock opened at $1.80 on Friday. The stock has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.57. Neonode has a 12-month low of $1.02 and a 12-month high of $8.97.

Neonode (NASDAQ:NEON) last released 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 institutional investors have recently made changes to their positions in NEON. State Street Corp raised its holdings in shares of Neonode by 14.3% in the first quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock valued at $130,000 after buying an additional 2,680 shares during the last quarter. Virtu Financial LLC bought a new stake in Neonode during the 2nd quarter worth about $55,000. Dimensional Fund Advisors LP raised 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 worth $99,000 after purchasing an additional 15,553 shares during the last quarter. Vanguard Group Inc. raised its holdings in Neonode by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 85,642 shares of the electronics maker’s stock worth $299,000 after purchasing an additional 3,432 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in Neonode during the 4th quarter worth about $98,000. 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.