Neonode (NASDAQ:NEON) Stock Passes Above 200-Day Moving Average of $6.27

Neonode Inc. (NASDAQ:NEON – Get Rating) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.27 and traded as high as $6.50. Neonode shares last traded at $6.36, with a volume of 83,321 shares changing hands.

Separately, StockNews.com assumed coverage on shares of Neonode in a report on Wednesday. They set a “sell” rating for the company.

The company has a current ratio of 7.78, a quick ratio of 6.44 and a debt-to-equity ratio of 0.01. The firm has a market cap of $86.34 million, a PE ratio of -12.72 and a beta of 2.33. The business’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $6.27.

Neonode (NASDAQ:NEON – Get Rating) last posted its earnings results on Wednesday, May 11th. The electronics maker reported ($0.10) EPS for the quarter. Neonode had a negative net margin of 114.08% and a negative return on equity of 46.65%. The business had revenue of $1.32 million for the quarter.

Several institutional investors have recently modified their holdings of NEON. Renaissance Technologies LLC purchased a new position in shares of Neonode in the 4th quarter worth approximately $564,000. Millennium Management LLC purchased a new position in shares of Neonode in the 4th quarter worth approximately $133,000. UBS Group AG purchased a new position in shares of Neonode in the 3rd quarter worth approximately $143,000. Northern Trust Corp grew its position in shares of Neonode by 69.7% in the 4th quarter. Northern Trust Corp now owns 17,337 shares of the electronics maker’s stock worth $153,000 after buying an additional 7,118 shares during the last quarter. Finally, Dorsey Wright & Associates purchased a new position in shares of Neonode in the 4th quarter worth approximately $50,000. 17.86% of the stock is currently owned by hedge funds and other institutional investors.

About Neonode (NASDAQ:NEON)

Neonode Inc, together with its subsidiaries, develops optical sensing solutions for contactless touch, touch, and gesture sensing in the United States, Japan, South Korea, China, and internationally. It also offers software solutions for scene analysis using advanced machine learning algorithms to detect and track persons and objects in video streams for cameras and other types of imagers.

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