Neonode (NASDAQ:NEON) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Neonode Inc. (NASDAQ:NEON) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 Trading Down 1.2 %

The stock has a market capitalization of $138.12 million, a price-to-earnings ratio of -11.59 and a beta of 1.99. The stock has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $8.25.

Institutional Investors Weigh In On Neonode

Several institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new stake in shares of Neonode during the 4th quarter valued at about $107,000. Jane Street Group LLC lifted its holdings in shares of Neonode by 81.5% during the 4th quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker’s stock valued at $164,000 after buying an additional 8,962 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Neonode by 654.4% during the 4th quarter. Northern Trust Corp now owns 158,709 shares of the electronics maker’s stock valued at $1,306,000 after buying an additional 137,671 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Neonode during the 4th quarter valued at about $173,000. Finally, Geode Capital Management LLC lifted its holdings in Neonode by 8.5% in the 4th 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 during the last quarter. 11.63% of the stock is currently owned by institutional investors and hedge funds.

About Neonode

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.