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

Neonode Inc. (NASDAQ:NEON) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.31 and traded as high as $9.00. Neonode shares last traded at $8.85, with a volume of 76,849 shares traded.

Neonode Stock Performance

The stock has a 50 day moving average of $8.67 and a two-hundred day moving average of $8.32. The stock has a market cap of $143.16 million, a PE ratio of -12.01 and a beta of 1.99.

Hedge Funds Weigh In On Neonode

Several institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Neonode during the fourth quarter worth approximately $25,000. Squarepoint Ops LLC acquired a new stake in shares of Neonode in the fourth quarter valued at about $107,000. Jane Street Group LLC increased its stake in shares of Neonode by 81.5% in the fourth quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker’s stock worth $164,000 after purchasing an additional 8,962 shares during the period. Renaissance Technologies LLC bought a new stake in Neonode during the 4th quarter valued at approximately $173,000. Finally, Centiva Capital LP bought a new stake in shares of Neonode in the third quarter valued at approximately $201,000. 11.63% of the stock is currently 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.