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

Neonode Inc. (NASDAQ:NEON) 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 trading hands.

Analyst Upgrades and Downgrades

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

Neonode Stock Performance

The company has a market cap of $147.02 million, a PE ratio of -12.34 and a beta of 1.97. The firm’s 50 day moving average is $8.69 and its 200-day moving average is $7.86.

Hedge Funds Weigh In On Neonode

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Neonode in the 4th quarter worth approximately $25,000. Jane Street Group LLC lifted its holdings in Neonode by 81.5% during the 4th quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker’s stock worth $164,000 after buying an additional 8,962 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Neonode by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker’s stock valued at $1,125,000 after purchasing an additional 10,732 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Neonode in the 4th quarter valued at approximately $107,000. Finally, State Street Corp increased its position in shares of Neonode by 50.5% in the 3rd quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock valued at $418,000 after purchasing an additional 15,400 shares during the last quarter. 11.63% of the stock is currently owned by institutional investors and hedge funds.

About Neonode

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.