Neonode (NASDAQ:NEON) Share 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 Monday . The stock has a two hundred day moving average of $5.99 and traded as high as $8.62. Neonode shares last traded at $8.55, with a volume of 124,820 shares traded.

Analyst Upgrades and Downgrades

NEON has been the subject of a number of research reports. StockNews.com upgraded shares of Neonode to a “sell” rating in a research report on Friday, November 8th. LADENBURG THALM/SH SH began coverage on shares of Neonode in a report on Friday, October 18th. They issued a “buy” rating and a $16.50 price target on the stock.

Neonode Price Performance

The stock has a market capitalization of $143.49 million, a PE ratio of -12.04 and a beta of 2.00. The business’s fifty day moving average price is $7.52 and its 200-day moving average price is $5.99.

Institutional Investors Weigh In On Neonode

A number of institutional investors and hedge funds have recently modified their holdings of NEON. Geode Capital Management LLC raised its stake in Neonode by 12.1% in the third quarter. Geode Capital Management LLC now owns 125,946 shares of the electronics maker’s stock valued at $1,146,000 after purchasing an additional 13,590 shares in the last quarter. State Street Corp lifted its holdings 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 acquiring an additional 15,400 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in Neonode in the third quarter worth $201,000. 11.63% of the stock is owned by hedge funds and other institutional investors.

About Neonode

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.