Neonode (NASDAQ:NEON) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Neonode Inc. (NASDAQ:NEON)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.31 and traded as high as $9.00. Neonode shares last traded at $8.85, with a volume of 76,849 shares traded.

Neonode Stock Performance

The company has a 50-day moving average price of $8.67 and a 200-day moving average price of $8.32. The company has a market capitalization of $143.16 million, a price-to-earnings ratio of -12.01 and a beta of 1.99.

Institutional Trading of Neonode

Several hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its position in shares of Neonode by 654.4% during the fourth quarter. Northern Trust Corp now owns 158,709 shares of the electronics maker’s stock worth $1,306,000 after buying an additional 137,671 shares during the period. Centiva Capital LP acquired a new stake in shares of Neonode during the third quarter worth $201,000. Renaissance Technologies LLC bought a new position in Neonode during the 4th quarter worth $173,000. State Street Corp raised its position 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Neonode by 12.1% in the third quarter. Geode Capital Management LLC now owns 125,946 shares of the electronics maker’s stock worth $1,146,000 after acquiring an additional 13,590 shares during the last quarter. 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.