Neonode (NASDAQ:NEON) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Neonode Inc. (NASDAQ:NEON)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.15 and traded as high as $9.35. Neonode shares last traded at $9.33, with a volume of 85,369 shares changing hands.

Neonode Stock Performance

The company’s 50-day moving average is $8.41 and its 200-day moving average is $8.15. The firm has a market cap of $156.59 million, a price-to-earnings ratio of -13.14 and a beta of 2.00.

Institutional Trading of Neonode

A number of institutional investors have recently bought and sold shares of NEON. SBI Securities Co. Ltd. acquired a new stake in shares of Neonode in the 4th quarter valued at approximately $25,000. Jane Street Group LLC raised its holdings in Neonode by 81.5% in the fourth quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker’s stock worth $164,000 after purchasing an additional 8,962 shares during the period. Geode Capital Management LLC boosted its position in shares of Neonode by 8.5% during the fourth quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker’s stock worth $1,125,000 after purchasing an additional 10,732 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Neonode in the 4th quarter valued at $107,000. Finally, State Street Corp grew its holdings in shares of Neonode by 50.5% in 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 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, 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.