Free Trial

Neonode (NASDAQ:NEON) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Neonode logo with Computer and Technology background

Neonode Inc. (NASDAQ:NEON - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.38 and traded as high as $26.85. Neonode shares last traded at $25.38, with a volume of 295,027 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Neonode from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Check Out Our Latest Stock Analysis on Neonode

Neonode Stock Performance

The company has a market capitalization of $463.30 million, a P/E ratio of -38.89 and a beta of 0.78. The firm's fifty day moving average is $14.60 and its 200 day moving average is $10.70.

Neonode (NASDAQ:NEON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The electronics maker reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.65 million. Neonode had a negative net margin of 217.85% and a negative return on equity of 38.24%. On average, analysts forecast that Neonode Inc. will post -0.42 EPS for the current year.

Hedge Funds Weigh In On Neonode

A number of hedge funds have recently added to or reduced their stakes in NEON. Northern Trust Corp grew its stake in Neonode by 654.4% in the 4th quarter. Northern Trust Corp now owns 158,709 shares of the electronics maker's stock worth $1,306,000 after acquiring an additional 137,671 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Neonode during the first quarter valued at approximately $393,000. OMERS ADMINISTRATION Corp acquired a new stake in Neonode in the first quarter valued at approximately $234,000. Jane Street Group LLC boosted its stake in Neonode by 137.1% in the first quarter. Jane Street Group LLC now owns 47,320 shares of the electronics maker's stock valued at $385,000 after acquiring an additional 27,358 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Neonode in the fourth quarter valued at approximately $173,000. 11.63% of the stock is currently owned by institutional investors.

About Neonode

(Get Free Report)

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.

Further Reading

Should You Invest $1,000 in Neonode Right Now?

Before you consider Neonode, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Neonode wasn't on the list.

While Neonode currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

ACT FAST! Congress is Dumping these 3 Stocks
3 “Boring” Mega Cap Stocks to Turn Into Pure Profit
Joby vs. Archer: The $10 Billion eVTOL Battle

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines