Neonode (NASDAQ:NEON) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Neonode Inc. (NASDAQ:NEON - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.72 and traded as high as $22.63. Neonode shares last traded at $22.18, with a volume of 300,987 shares trading hands.

Analyst Upgrades and Downgrades

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

Neonode Stock Up 2.7%

The firm has a market cap of $372.18 million, a PE ratio of -31.24 and a beta of 0.42. The company's 50 day moving average price is $12.27 and its two-hundred day moving average price is $9.72.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Northern Trust Corp increased its position in 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 purchasing an additional 137,671 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Neonode in the 1st quarter worth approximately $393,000. OMERS ADMINISTRATION Corp acquired a new stake in Neonode in the 1st quarter worth approximately $234,000. Jane Street Group LLC raised its position in Neonode by 137.1% during the 1st quarter. Jane Street Group LLC now owns 47,320 shares of the electronics maker's stock worth $385,000 after buying an additional 27,358 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Neonode during the 4th quarter worth approximately $173,000. 11.63% of the stock is currently owned by institutional investors.

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.

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