Neonode Inc. (NASDAQ:NEON - Get Free Report)'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 $10.38 and traded as high as $26.85. Neonode shares last traded at $25.38, with a volume of 295,027 shares trading hands.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded shares of Neonode from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.
Check Out Our Latest Stock Report on Neonode
Neonode Trading Down 1.2%
The stock has a market capitalization of $425.79 million, a P/E ratio of -35.74 and a beta of 0.78. The firm's fifty day moving average is $14.30 and its 200-day moving average is $10.53.
Neonode (NASDAQ:NEON - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Neonode had a negative net margin of 217.85% and a negative return on equity of 38.24%. The firm had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.65 million. Equities research analysts expect that Neonode Inc. will post -0.42 EPS for the current year.
Hedge Funds Weigh In On Neonode
Several institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in shares of Neonode in the fourth quarter worth about $25,000. Jane Street Group LLC raised its stake in shares of Neonode by 81.5% in the fourth quarter. Jane Street Group LLC now owns 19,962 shares of the electronics maker's stock worth $164,000 after acquiring an additional 8,962 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Neonode by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker's stock worth $1,125,000 after acquiring an additional 10,732 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Neonode in the fourth quarter worth about $107,000. Finally, Renaissance Technologies LLC bought a new position in shares of Neonode in the fourth quarter worth about $173,000. 11.63% of the stock is 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.
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