Neonode (NASDAQ:NEON) Shares Pass Above 200 Day Moving Average – Time to Sell?

Neonode Inc. (NASDAQ:NEON) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.79 and traded as high as $1.84. Neonode shares last traded at $1.68, with a volume of 142,685 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Neonode from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $6.00.

Neonode Stock Down 9.2%

The company has a 50 day moving average of $1.60 and a two-hundred day moving average of $1.79. The firm has a market cap of $28.19 million, a P/E ratio of -5.25 and a beta of 0.97.

Neonode (NASDAQ:NEON) last announced its earnings results on Wednesday, May 13th. The electronics maker reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Neonode had a net margin of 386.64% and a negative return on equity of 34.66%. The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $0.66 million.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEON. Vanguard Group Inc. lifted its holdings in shares of Neonode by 105.2% during the third quarter. Vanguard Group Inc. now owns 547,807 shares of the electronics maker’s stock valued at $1,912,000 after purchasing an additional 280,806 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Neonode during the third quarter valued at $749,000. Quadrature Capital Ltd purchased a new stake in shares of Neonode during the fourth quarter valued at $159,000. Goldman Sachs Group Inc. purchased a new stake in shares of Neonode during the first quarter valued at $393,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Neonode during the first quarter valued at $67,000. Institutional investors own 11.63% of the company’s stock.

Neonode Company Profile

Neonode AB (NASDAQ: NEON) is a technology company specializing in optical-based user interface solutions for electronic devices. The company develops sensor and software platforms that allow touch, gesture and hover interactions through the projection and detection of infrared light. Neonode’s offerings are designed to enable intuitive, reliable and low-power human-machine interfaces across a variety of device categories.

At the core of Neonode’s portfolio are its zForce and Neonode software products, which can be integrated into consumer electronics, automotive systems, home appliances, industrial equipment and Internet of Things applications.