Neonode (NASDAQ:NEON) Stock Crosses Above 200 Day Moving Average – What’s Next?

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEON. LADENBURG THALM/SH SH started coverage on Neonode in a research note on Friday, October 18th. They set a “buy” rating and a $16.50 target price on the stock. StockNews.com raised Neonode to a “sell” rating in a report on Friday, November 8th.

Neonode Trading Up 1.7 %

The company’s 50-day moving average is $7.76 and its 200-day moving average is $6.62.

Institutional Investors Weigh In On Neonode

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

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.