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

Neonode Inc. (NASDAQ:NEON) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.25 and traded as high as $8.41. Neonode shares last traded at $8.36, with a volume of 67,212 shares.

Neonode Stock Up 3.7 %

The firm has a 50 day simple moving average of $8.60 and a two-hundred day simple moving average of $8.25. The stock has a market capitalization of $140.31 million, a P/E ratio of -11.77 and a beta of 1.99.

Institutional Investors Weigh In On Neonode

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in Neonode during the fourth quarter worth $25,000. Jane Street Group LLC lifted its stake in shares of Neonode by 81.5% in the 4th quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker’s stock valued at $164,000 after acquiring an additional 8,962 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Neonode by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker’s stock valued at $1,125,000 after acquiring an additional 10,732 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Neonode in the 4th quarter valued at $107,000. Finally, State Street Corp lifted its stake 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 acquiring an additional 15,400 shares during the last quarter. 11.63% of the stock is currently owned by institutional investors.

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.