State Street Corp Raises Stock Position in Neonode Inc. (NASDAQ:NEON)

State Street Corp increased its holdings in shares of Neonode Inc. (NASDAQ:NEON) by 50.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,911 shares of the electronics maker’s stock after purchasing an additional 15,400 shares during the period. State Street Corp owned 0.27% of Neonode worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Centiva Capital LP acquired a new position in shares of Neonode during the third quarter worth about $201,000. Institutional investors and hedge funds own 11.63% of the company’s stock.

Neonode Price Performance

Shares of NEON stock opened at $9.25 on Friday. The company’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $6.16. The firm has a market capitalization of $155.24 million, a P/E ratio of -13.03 and a beta of 1.96. Neonode Inc. has a 12 month low of $1.23 and a 12 month high of $15.00.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Neonode to a “sell” rating in a report on Friday, November 8th. LADENBURG THALM/SH SH began coverage on shares of Neonode in a research note on Friday, October 18th. They set a “buy” rating and a $16.50 price objective on the 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, Germany, Switzerland, 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.