Neonode (NASDAQ:NEON) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Neonode Inc. (NASDAQ:NEON) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.57 and traded as high as $7.36. Neonode shares last traded at $6.84, with a volume of 311,149 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on NEON. LADENBURG THALM/SH SH initiated coverage on Neonode in a research note on Friday, October 18th. They issued a “buy” rating and a $16.50 price objective on the stock. StockNews.com upgraded Neonode to a “sell” rating in a report on Friday, October 25th.

Neonode Price Performance

The firm has a market cap of $105.81 million, a PE ratio of -9.50 and a beta of 1.94. The business has a fifty day moving average price of $8.32 and a two-hundred day moving average price of $4.57.

Neonode (NASDAQ:NEON) last issued its earnings results on Thursday, August 8th. The electronics maker reported ($0.11) EPS for the quarter. Neonode had a negative net margin of 247.41% and a negative return on equity of 64.05%. The firm had revenue of $1.42 million during the quarter. As a group, sell-side analysts forecast that Neonode Inc. will post -0.48 EPS for the current fiscal year.

About Neonode

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.