Neonode (NASDAQ:NEON) Shares Cross Above 200 Day Moving Average – Should You Sell?

Neonode Inc. (NASDAQ:NEON)’s stock price 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.

Analysts Set New Price Targets

NEON has been the topic of several analyst reports. StockNews.com raised shares of Neonode to a “sell” rating in a research note on Friday, November 8th. LADENBURG THALM/SH SH initiated coverage on Neonode in a research note on Friday, October 18th. They issued a “buy” rating and a $16.50 price target for the company.

Neonode Trading Up 8.0 %

The stock’s 50-day moving average price is $7.52 and its 200-day moving average price is $5.74. The stock has a market cap of $128.73 million, a price-to-earnings ratio of -10.80 and a beta of 2.00.

Institutional Trading of Neonode

A number of large investors have recently bought and sold shares of NEON. Geode Capital Management LLC lifted its stake 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 valued at $1,146,000 after purchasing an additional 13,590 shares during the period. State Street Corp increased its holdings in Neonode by 50.5% in the third quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock worth $418,000 after purchasing an additional 15,400 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in Neonode in the third quarter valued at approximately $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.