Neonode (NASDAQ:NEON) Share Price Passes Above Two Hundred Day Moving Average of $1.57

Neonode Inc. (NASDAQ:NEON) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.57 and traded as high as $1.68. Neonode shares last traded at $1.63, with a volume of 167,596 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Neonode in a research report on Friday. They issued a “hold” rating for the company.

Neonode Trading Up 10.4 %

The firm has a fifty day moving average of $1.45 and a 200-day moving average of $1.57.

Neonode (NASDAQ:NEON) last announced its quarterly earnings results on Wednesday, February 28th. The electronics maker reported ($0.39) earnings per share for the quarter. The business had revenue of $0.99 million for the quarter. Neonode had a negative return on equity of 44.82% and a negative net margin of 227.53%.

Hedge Funds Weigh In On Neonode

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in Neonode by 1,297.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 4,177 shares during the period. Virtu Financial LLC bought a new position in Neonode during the 2nd quarter worth $55,000. Bank of America Corp DE bought a new stake in shares of Neonode during the 4th quarter valued at $98,000. Dimensional Fund Advisors LP lifted its position in Neonode by 121.0% during the third quarter. Dimensional Fund Advisors LP now owns 28,402 shares of the electronics maker’s stock worth $99,000 after purchasing an additional 15,553 shares during the period. Finally, State Street Corp lifted its holdings in shares of Neonode by 14.3% during the 1st quarter. State Street Corp now owns 21,411 shares of the electronics maker’s stock worth $130,000 after acquiring an additional 2,680 shares during the period. 11.63% of the stock is currently owned by institutional investors and hedge funds.

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, Switzerland, Germany, 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.