Northern Trust Corp Boosts Stock Position in Neonode Inc. (NASDAQ:NEON)

Northern Trust Corp lifted its stake in shares of Neonode Inc. (NASDAQ:NEON - Free Report) by 654.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,709 shares of the electronics maker's stock after acquiring an additional 137,671 shares during the period. Northern Trust Corp owned 0.95% of Neonode worth $1,306,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Neonode during the fourth quarter worth about $25,000. Renaissance Technologies LLC purchased a new position in Neonode during the fourth quarter worth about $173,000. Finally, Geode Capital Management LLC lifted its position in Neonode by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker's stock worth $1,125,000 after buying an additional 10,732 shares during the period. Institutional investors and hedge funds own 11.63% of the company's stock.

Neonode Trading Down 1.6%

Shares of Neonode stock traded down $0.16 during trading hours on Friday, reaching $10.05. The stock had a trading volume of 69,990 shares, compared to its average volume of 279,078. The firm has a 50 day simple moving average of $9.76 and a two-hundred day simple moving average of $8.80. The firm has a market capitalization of $168.67 million, a price-to-earnings ratio of -14.15 and a beta of 0.45. Neonode Inc. has a 1 year low of $1.90 and a 1 year high of $15.00.

Neonode (NASDAQ:NEON - Get Free Report) last posted its earnings results on Wednesday, May 14th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03). Neonode had a negative net margin of 252.78% and a negative return on equity of 67.67%. The company had revenue of $0.51 million during the quarter, compared to analyst estimates of $0.65 million. Sell-side analysts forecast that Neonode Inc. will post -0.42 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Neonode from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

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.