Neonode (NASDAQ:NEON) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Neonode Inc. (NASDAQ:NEON) 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.

Analysts Set New Price Targets

Several research firms have weighed in on NEON. StockNews.com raised shares of Neonode to a “sell” rating in a research note on Friday, November 8th. LADENBURG THALM/SH SH started coverage on Neonode in a research report on Friday, October 18th. They issued a “buy” rating and a $16.50 target price for the company.

Neonode Stock Performance

The company has a market capitalization of $128.73 million, a P/E ratio of -10.80 and a beta of 2.00. The business has a fifty day moving average of $7.52 and a 200-day moving average of $5.74.

Institutional Investors Weigh In On Neonode

Several hedge funds and other institutional investors have recently made changes to their positions in NEON. Centiva Capital LP purchased a new position in shares of Neonode during the third quarter valued at approximately $201,000. State Street Corp lifted its stake in Neonode by 50.5% during the 3rd quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock valued at $418,000 after acquiring an additional 15,400 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Neonode by 12.1% during 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 last quarter. 11.63% of the stock is 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.