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

Neonode Inc. (NASDAQ:NEON) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.70 and traded as high as $7.75. Neonode shares last traded at $7.67, with a volume of 119,287 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on NEON shares. StockNews.com upgraded Neonode to a “sell” rating in a research note on Friday, November 8th. LADENBURG THALM/SH SH began coverage on Neonode in a research report on Friday, October 18th. They issued a “buy” rating and a $16.50 target price on the stock.

Neonode Stock Performance

The company’s fifty day simple moving average is $7.54 and its two-hundred day simple moving average is $5.70. The company has a market capitalization of $128.73 million, a price-to-earnings ratio of -10.80 and a beta of 2.00.

Hedge Funds Weigh In On Neonode

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Neonode by 12.1% in the 3rd 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 during the last quarter. State Street Corp grew its position in shares of Neonode by 50.5% during the 3rd quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock valued at $418,000 after buying an additional 15,400 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in Neonode during the third quarter worth about $201,000. 11.63% of the stock is currently owned by institutional investors and hedge funds.

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.