Netlist Inc. Forecasted to Post FY2016 Earnings of ($0.21) Per Share (NLST)
Netlist Inc. (NASDAQ:NLST) – Analysts at B. Riley boosted their FY2016 EPS estimates for Netlist in a report released on Tuesday. B. Riley analyst C. Ellis now forecasts that the firm will post earnings of ($0.21) per share for the year, up from their previous estimate of ($0.22). B. Riley has a “Buy” rating and a $2.80 price target on the stock. B. Riley also issued estimates for Netlist’s FY2017 earnings at ($0.07) EPS.
Netlist (NASDAQ:NLST) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm earned $2.60 million during the quarter, compared to analyst estimates of $3.50 million. Netlist had a negative return on equity of 2,840.55% and a negative net margin of 68.67%.
Separately, Benchmark Co. assumed coverage on Netlist in a research report on Friday, September 30th. They set a “buy” rating and a $4.00 target price on the stock.
Shares of Netlist (NASDAQ:NLST) traded up 4.7395% during trading on Friday, reaching $1.2464. The company’s stock had a trading volume of 619,664 shares. Netlist has a 12 month low of $0.62 and a 12 month high of $2.19. The company’s market capitalization is $63.70 million. The company’s 50-day moving average is $1.18 and its 200-day moving average is $1.34.
A number of large investors have recently added to or reduced their stakes in NLST. Fortress Investment Group LLC bought a new stake in Netlist during the second quarter worth $788,000. BlackRock Fund Advisors increased its stake in Netlist by 1,346.9% in the second quarter. BlackRock Fund Advisors now owns 105,289 shares of the company’s stock worth $123,000 after buying an additional 98,012 shares during the last quarter. Vanguard Group Inc. boosted its position in Netlist by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,349,632 shares of the company’s stock worth $1,579,000 after buying an additional 39,964 shares during the period. Penn Capital Management Co. Inc. purchased a new position in Netlist during the third quarter worth about $1,367,000. Finally, B. Riley Financial Inc. purchased a new position in Netlist during the third quarter worth about $906,000. 17.33% of the stock is currently owned by institutional investors.
Netlist, Inc designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs).
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