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

Posted by Denise Randall on Jan 19th, 2025

Neonode Inc. (NASDAQ:NEON – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.59 and traded as high as $8.14. Neonode shares last traded at $7.97, with a volume of 59,534 shares changing hands.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on NEON

Neonode Trading Up 1.7 %

The firm’s fifty day moving average price is $7.76 and its two-hundred day moving average price is $6.62.

Institutional Trading of Neonode

Several hedge funds have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Neonode by 50.5% in the third quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock valued at $418,000 after buying an additional 15,400 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Neonode by 12.1% in 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. Finally, Centiva Capital LP bought a new position in Neonode in the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 11.63% of the company’s stock.

Neonode Company Profile

(Get Free Report)

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.