Neonode (NASDAQ:NEON) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Neonode Inc. (NASDAQ:NEON)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.59 and traded as high as $8.14. Neonode shares last traded at $7.97, with a volume of 59,534 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Neonode in a research note on Friday, October 18th. They issued a “buy” rating and a $16.50 price target for the company. StockNews.com upgraded Neonode to a “sell” rating in a research report on Friday, November 8th.

Neonode Price Performance

The company has a fifty day simple moving average of $7.76 and a 200-day simple moving average of $6.62.

Institutional Investors Weigh In On Neonode

Several hedge funds have recently bought and sold shares of NEON. State Street Corp raised its holdings in shares of Neonode by 50.5% during the third quarter. State Street Corp now owns 45,911 shares of the electronics maker’s stock worth $418,000 after acquiring an additional 15,400 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Neonode by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 125,946 shares of the electronics maker’s stock worth $1,146,000 after purchasing an additional 13,590 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Neonode during the 3rd quarter valued at about $201,000. 11.63% of the stock is owned by hedge funds and other 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.