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

StockNews.com started coverage on shares of Neonode (NASDAQ:NEON) in a research note issued to investors on Friday. The brokerage issued a hold rating on the electronics maker’s stock.

Neonode Price Performance

Neonode stock opened at $1.80 on Friday. The company’s 50-day moving average price is $1.45 and its two-hundred day moving average price is $1.57. Neonode has a 52 week low of $1.02 and a 52 week high of $8.97.

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

Hedge Funds Weigh In On Neonode

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Neonode by 15.8% during the 3rd quarter. Vanguard Group Inc. now owns 140,915 shares of the electronics maker’s stock valued at $225,000 after purchasing an additional 19,245 shares in the last quarter. BlackRock Inc. boosted its position in shares of Neonode by 32.7% during the 2nd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Neonode by 10.0% during the 2nd quarter. Geode Capital Management LLC now owns 97,444 shares of the electronics maker’s stock valued at $787,000 after purchasing an additional 8,884 shares in the last quarter. State Street Corp boosted its position in shares of Neonode by 16.4% during the 1st quarter. State Street Corp now owns 30,511 shares of the electronics maker’s stock valued at $232,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Neonode during the 1st quarter valued at about $502,000. Institutional investors and hedge funds 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.