Neonode (NASDAQ:NEON) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Neonode Inc. (NASDAQ:NEON) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.86 and traded as high as $6.57. Neonode shares last traded at $6.13, with a volume of 125,250 shares trading hands.

Wall Street Analysts Forecast Growth

NEON has been the topic of several recent analyst reports. StockNews.com upgraded Neonode to a “sell” rating in a research note on Friday, November 8th. LADENBURG THALM/SH SH assumed coverage on Neonode in a research note on Friday, October 18th. They set a “buy” rating and a $16.50 target price on the stock.

Neonode Stock Performance

The firm has a fifty day moving average price of $8.31 and a two-hundred day moving average price of $4.86. The stock has a market capitalization of $102.86 million, a P/E ratio of -8.63 and a beta of 1.93.

Hedge Funds Weigh In On Neonode

An institutional investor recently bought a new position in Neonode stock. Centiva Capital LP purchased a new stake in shares of Neonode Inc. (NASDAQ:NEON) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 22,130 shares of the electronics maker’s stock, valued at approximately $201,000. Centiva Capital LP owned 0.13% of Neonode at the end of the most recent reporting period. Institutional investors and hedge funds own 11.63% of the company’s 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.