Neonode (NASDAQ:NEON) Stock Price Crosses Above 200 Day Moving Average of $6.71

Neonode Inc. (NASDAQ:NEON – Get Rating)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.71 and traded as high as $7.36. Neonode shares last traded at $7.13, with a volume of 29,204 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Neonode in a research note on Thursday, March 16th. They set a “sell” rating on the stock.

Neonode Stock Performance

The firm’s 50 day simple moving average is $7.14 and its 200-day simple moving average is $6.71. The company has a market capitalization of $110.80 million, a price-to-earnings ratio of -18.76 and a beta of 2.07.

Hedge Funds Weigh In On Neonode

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Neonode during the 1st quarter valued at $502,000. BlackRock Inc. grew its holdings in shares of Neonode by 17.4% during the 1st quarter. BlackRock Inc. now owns 93,764 shares of the electronics maker’s stock valued at $714,000 after acquiring an additional 13,911 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Neonode by 1,297.2% in the first quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 4,177 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Neonode in the fourth quarter worth $288,000. Finally, Geode Capital Management LLC boosted its holdings in Neonode by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 68,882 shares of the electronics maker’s stock worth $378,000 after purchasing an additional 1,604 shares in the last quarter. 13.42% of the stock is currently owned by hedge funds and other institutional investors.

Neonode Company Profile

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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.