Neonode (NASDAQ:NEON) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Neonode Inc. (NASDAQ:NEON)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.70 and traded as high as $7.75. Neonode shares last traded at $7.67, with a volume of 119,287 shares changing hands.

Wall Street Analysts Forecast Growth

NEON has been the subject of a number of recent research reports. LADENBURG THALM/SH SH started coverage on Neonode in a research note on Friday, October 18th. They set a “buy” rating and a $16.50 price objective for the company. StockNews.com raised shares of Neonode to a “sell” rating in a report on Friday, November 8th.

Neonode Price Performance

The stock has a fifty day moving average price of $7.54 and a two-hundred day moving average price of $5.70. The company has a market cap of $128.73 million, a P/E ratio of -10.80 and a beta of 2.00.

Institutional Investors Weigh In On Neonode

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centiva Capital LP bought a new position in Neonode in the 3rd quarter valued at about $201,000. State Street Corp raised its position in shares of Neonode by 50.5% during the 3rd quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock worth $418,000 after buying an additional 15,400 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Neonode by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 125,946 shares of the electronics maker’s stock worth $1,146,000 after acquiring an additional 13,590 shares during the period. 11.63% of the stock is currently owned by institutional investors.

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.