Ron Shelton Buys 15,000 Shares of Adesto Technologies Corp. (IOTS) Stock
Adesto Technologies Corp. (NASDAQ:IOTS) CFO Ron Shelton acquired 15,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were bought at an average price of $1.90 per share, with a total value of $28,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) opened at 1.95 on Monday. Adesto Technologies Corp. has a 52 week low of $1.50 and a 52 week high of $8.50. The firm’s market capitalization is $29.32 million. The stock has a 50 day moving average price of $2.16 and a 200-day moving average price of $3.00.
Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings results on Thursday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. The firm earned $11.20 million during the quarter, compared to the consensus estimate 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 business’s revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that Adesto Technologies Corp. will post ($0.68) earnings per share for the current year.
Several research firms have issued reports on IOTS. Zacks Investment Research upgraded Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 12th. 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 objective for the company. Finally, Needham & Company LLC dropped their price objective on Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $6.60.
An institutional investor recently raised its position in Adesto Technologies Corp. stock. Vanguard Group Inc. boosted its stake in shares of Adesto Technologies Corp. (NASDAQ:IOTS) by 135.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,178 shares of the company’s stock after buying an additional 36,975 shares during the period. Vanguard Group Inc. owned about 0.43% of Adesto Technologies Corp. worth $210,000 at the end of the most recent quarter. 24.70% of the stock is owned by hedge funds and other institutional investors.
Adesto Technologies Corp. Company Profile
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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