Neonode (NASDAQ:NEON) Share Price Passes Above 200-Day Moving Average of $6.95

Neonode Inc. (NASDAQ:NEON – Get Rating)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.95 and traded as high as $7.53. Neonode shares last traded at $7.51, with a volume of 37,900 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Neonode in a research note on Thursday, May 18th. They issued a “sell” rating for the company.

Neonode Stock Up 3.4 %

The business’s 50 day moving average price is $7.20 and its 200-day moving average price is $6.95.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Neonode by 28.6% during the 1st quarter. Geode Capital Management LLC now owns 88,560 shares of the electronics maker’s stock worth $674,000 after acquiring an additional 19,678 shares during the period. Renaissance Technologies LLC acquired a new position in Neonode in the 1st quarter valued at about $502,000. Vanguard Group Inc. grew its position in shares of Neonode by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 85,642 shares of the electronics maker’s stock worth $299,000 after purchasing an additional 3,432 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Neonode during the 4th quarter worth approximately $288,000. Finally, State Street Corp boosted its position in shares of Neonode by 16.4% during the 1st quarter. State Street Corp now owns 30,511 shares of the electronics maker’s stock worth $232,000 after acquiring an additional 4,300 shares in the last quarter. Institutional investors own 13.42% of the company’s stock.

About Neonode

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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.