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

StockNews.com began coverage on shares of Neonode (NASDAQ:NEON – Get Rating) in a research note published on Thursday. The firm issued a sell rating on the electronics maker’s stock.

Neonode Trading Up 1.0 %

Shares of NEON stock opened at $7.29 on Thursday. The business’s fifty day moving average is $8.65 and its 200 day moving average is $5.80. Neonode has a 52-week low of $3.30 and a 52-week high of $14.75.

Institutional Investors Weigh In On Neonode

A number of large investors have recently added to or reduced their stakes in NEON. State Street Corp raised its position in Neonode by 14.3% during the first quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock valued at $130,000 after purchasing an additional 2,680 shares in the last quarter. Virtu Financial LLC purchased a new stake in Neonode during the second quarter valued at about $55,000. Dimensional Fund Advisors LP raised its position in Neonode by 121.0% during the third quarter. Dimensional Fund Advisors LP now owns 28,402 shares of the electronics maker’s stock valued at $99,000 after purchasing an additional 15,553 shares in the last quarter. Vanguard Group Inc. raised its position in Neonode by 4.2% during the third quarter. Vanguard Group Inc. now owns 85,642 shares of the electronics maker’s stock valued at $299,000 after purchasing an additional 3,432 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Neonode during the fourth quarter valued at about $98,000. Hedge funds and other institutional investors own 13.42% of the company’s stock.

Neonode Company Profile

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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.