Neonode (NASDAQ:NEON) Shares Pass Above 200 Day Moving Average - What's Next?

Neonode Inc. (NASDAQ:NEON - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.15 and traded as high as $9.35. Neonode shares last traded at $9.33, with a volume of 85,369 shares traded.

Neonode Stock Performance

The firm has a market cap of $215.33 million, a PE ratio of -18.07 and a beta of 2.00. The stock has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $8.22.

Institutional Investors Weigh In On Neonode

Several hedge funds and other institutional investors have recently made changes to their positions in NEON. Northern Trust Corp grew its stake 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 acquiring an additional 137,671 shares during the period. Geode Capital Management LLC grew its stake in shares of Neonode by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 136,678 shares of the electronics maker's stock valued at $1,125,000 after acquiring an additional 10,732 shares during the period. State Street Corp grew its stake in shares of Neonode by 50.5% during the 3rd quarter. State Street Corp now owns 45,911 shares of the electronics maker's stock valued at $418,000 after acquiring an additional 15,400 shares during the period. Renaissance Technologies LLC bought a new position in shares of Neonode during the 4th quarter valued at approximately $173,000. Finally, Jane Street Group LLC grew its stake 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 acquiring an additional 8,962 shares during the period. Hedge funds and other institutional investors own 11.63% of the company's stock.

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.