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

Neonode Inc. (NASDAQ:NEON)’s share 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 traded.

Analysts Set New Price Targets

A number of brokerages have recently commented on NEON. 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 for the company. StockNews.com upgraded shares of Neonode to a “sell” rating in a research note on Friday, November 8th.

Neonode Trading Up 1.7 %

The business has a 50 day moving average price of $7.76 and a 200-day moving average price of $6.59. The firm has a market capitalization of $133.74 million, a PE ratio of -11.23 and a beta of 1.96.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Centiva Capital LP purchased a new stake in shares of Neonode during the 3rd quarter worth $201,000. 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 purchasing an additional 15,400 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Neonode by 12.1% during the third quarter. Geode Capital Management LLC now owns 125,946 shares of the electronics maker’s stock worth $1,146,000 after buying an additional 13,590 shares in the last quarter. Hedge funds and other institutional investors own 11.63% of the company’s stock.

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.