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

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

Neonode Price Performance

Shares of NEON opened at $3.70 on Monday. The firm’s 50 day moving average is $4.22 and its 200-day moving average is $5.06. The stock has a market capitalization of $50.25 million, a P/E ratio of -7.87 and a beta of 2.29. Neonode has a 12-month low of $3.30 and a 12-month high of $12.42.

Hedge Funds Weigh In On Neonode

An institutional investor recently bought a new position in Neonode stock. Virtu Financial LLC bought a new position in Neonode Inc. (NASDAQ:NEONGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,650 shares of the electronics maker’s stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 0.08% of Neonode at the end of the most recent reporting period. Institutional investors own 13.32% 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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