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

Neonode Inc. (NASDAQ:NEON)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.99 and traded as high as $8.10. Neonode shares last traded at $8.03, with a volume of 127,634 shares.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH initiated coverage on shares of Neonode in a research report on Friday. They set a “buy” rating and a $16.50 price target on the stock.

Neonode Price Performance

The firm has a market capitalization of $142.01 million, a P/E ratio of -12.75 and a beta of 1.89. The business’s 50-day moving average is $7.40 and its 200 day moving average is $4.07.

Neonode (NASDAQ:NEON) last announced its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.11) earnings per share (EPS) for the quarter. The firm had revenue of $1.42 million for the quarter. Neonode had a negative return on equity of 64.05% and a negative net margin of 247.41%.

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.