Neonode (NASDAQ:NEON) Share Price Crosses Above 200-Day Moving Average of $1.57

Neonode Inc. (NASDAQ:NEON)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.57 and traded as high as $1.68. Neonode shares last traded at $1.63, with a volume of 167,596 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Neonode in a research note on Friday. They set a “hold” rating for the company.

Neonode Price Performance

The stock has a market cap of $25.04 million, a PE ratio of -2.47 and a beta of 2.04. The stock has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $1.57.

Neonode (NASDAQ:NEON) last issued its earnings results on Wednesday, February 28th. The electronics maker reported ($0.39) earnings per share (EPS) for the quarter. Neonode had a negative return on equity of 44.82% and a negative net margin of 227.53%. The firm had revenue of $0.99 million for the quarter.

Institutional Investors Weigh In On Neonode

Large investors have recently made changes to their positions in the business. State Street Corp boosted its position in 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 purchasing an additional 4,300 shares during the period. Geode Capital Management LLC lifted its stake in shares of Neonode by 28.6% during the first quarter. Geode Capital Management LLC now owns 88,560 shares of the electronics maker’s stock worth $674,000 after purchasing an additional 19,678 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Neonode in the first quarter worth about $502,000. BlackRock Inc. grew its stake in shares of Neonode by 17.4% in the first quarter. BlackRock Inc. now owns 93,764 shares of the electronics maker’s stock valued at $714,000 after buying an additional 13,911 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Neonode by 1,297.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,499 shares of the electronics maker’s stock valued at $34,000 after buying an additional 4,177 shares during the period. Institutional investors and hedge funds 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, Switzerland, Germany, 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.