Neonode (NASDAQ:NEON) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Neonode Inc. (NASDAQ:NEON)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.86 and traded as high as $9.10. Neonode shares last traded at $8.76, with a volume of 54,941 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Neonode to a “sell” rating in a research note on Friday, November 8th.

Neonode Stock Performance

The company’s fifty day simple moving average is $8.69 and its two-hundred day simple moving average is $7.86. The stock has a market capitalization of $147.02 million, a PE ratio of -12.34 and a beta of 1.97.

Institutional Investors Weigh In On Neonode

Hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Neonode in the fourth quarter valued at approximately $25,000. Squarepoint Ops LLC acquired a new position in Neonode during the fourth quarter valued at approximately $107,000. Jane Street Group LLC lifted its position in Neonode by 81.5% during the fourth quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker’s stock valued at $164,000 after buying an additional 8,962 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Neonode during the fourth quarter valued at approximately $173,000. Finally, Centiva Capital LP acquired a new position in Neonode during the third quarter valued at approximately $201,000. 11.63% of the stock is currently owned by hedge funds and other 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.