Narbeh Derhacobian Acquires 17,800 Shares of Adesto Technologies Corp. (IOTS) Stock
Adesto Technologies Corp. (NASDAQ:IOTS) insider Narbeh Derhacobian bought 17,800 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were acquired at an average price of $1.91 per share, for a total transaction of $33,998.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Adesto Technologies Corp. (NASDAQ:IOTS) opened at 1.95 on Monday. Adesto Technologies Corp. has a 1-year low of $1.50 and a 1-year high of $8.50. The firm has a 50-day moving average price of $2.16 and a 200 day moving average price of $3.00. The firm’s market cap is $29.32 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. The company earned $11.20 million during the quarter, compared to analyst estimates of $11.03 million. Adesto Technologies Corp. had a negative net margin of 30.26% and a negative return on equity of 50.62%. The firm’s revenue was up .9% on a year-over-year basis. Equities analysts predict that Adesto Technologies Corp. will post ($0.68) earnings per share for the current year.
A hedge fund recently raised its stake in Adesto Technologies Corp. stock. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Adesto Technologies Corp. (NASDAQ:IOTS) by 40.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,739,084 shares of the company’s stock after buying an additional 497,912 shares during the period. Gilder Gagnon Howe & Co. LLC owned 11.61% of Adesto Technologies Corp. worth $5,704,000 at the end of the most recent quarter. 24.70% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on IOTS. Needham & Company LLC cut their price target on Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 10th. Zacks Investment Research lowered Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, Roth Capital began coverage on Adesto Technologies Corp. in a research note on Thursday, September 1st. They set a “buy” rating and a $4.00 price target on the stock. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Adesto Technologies Corp. currently has an average rating of “Buy” and an average price target of $6.60.
About Adesto Technologies Corp.
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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