Netlist, Inc. (NLST) Downgraded to “Strong Sell” at ValuEngine
Netlist, Inc. (NASDAQ:NLST) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.
Several other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Netlist from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. B. Riley reissued a “buy” rating and issued a $2.46 target price on shares of Netlist in a research report on Wednesday, August 23rd. Finally, Roth Capital started coverage on Netlist in a research report on Thursday, August 24th. They issued a “buy” rating and a $2.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $2.37.
Shares of Netlist (NLST) opened at 0.70 on Friday. The stock’s market capitalization is $43.34 million. Netlist has a one year low of $0.55 and a one year high of $1.87. The company’s 50-day moving average price is $0.95 and its 200 day moving average price is $1.05.
Netlist (NASDAQ:NLST) last released its earnings results on Thursday, August 10th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $11.40 million during the quarter, compared to analysts’ expectations of $10.65 million. Analysts anticipate that Netlist will post ($0.15) EPS for the current year.
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In other Netlist news, CEO Chun K. Hong sold 24,732 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $1.09, for a total value of $26,957.88. Following the sale, the chief executive officer now directly owns 85,568 shares of the company’s stock, valued at $93,269.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chun K. Hong sold 74,206 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $1.12, for a total transaction of $83,110.72. Following the completion of the sale, the chief executive officer now directly owns 85,568 shares in the company, valued at $95,836.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,200 shares of company stock worth $228,545. 15.42% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. B. Riley Financial Inc. raised its stake in Netlist by 42.9% in the second quarter. B. Riley Financial Inc. now owns 1,351,013 shares of the semiconductor company’s stock valued at $1,378,000 after buying an additional 405,375 shares during the last quarter. Royce & Associates LP raised its stake in Netlist by 20.1% in the first quarter. Royce & Associates LP now owns 1,200,500 shares of the semiconductor company’s stock valued at $1,188,000 after buying an additional 200,500 shares during the last quarter. Finally, Dialectic Capital Management LP raised its stake in Netlist by 1.2% in the first quarter. Dialectic Capital Management LP now owns 1,375,882 shares of the semiconductor company’s stock valued at $1,362,000 after buying an additional 16,511 shares during the last quarter. 19.38% of the stock is currently owned by institutional investors.
Netlist Company Profile
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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