Adesto Technologies Corporation (IOTS) Trading 0% Higher
Adesto Technologies Corporation (NASDAQ:IOTS) traded up 0% during trading on Friday . The stock traded as high as $9.00 and last traded at $8.45. 223,286 shares were traded during trading, an increase of 78% from the average session volume of 125,686 shares. The stock had previously closed at $8.45.
Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Adesto Technologies Corporation in a research report on Thursday. Zacks Investment Research downgraded shares of Adesto Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th.
The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.44 and a current ratio of 2.70.
Adesto Technologies Corporation (NASDAQ:IOTS) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Adesto Technologies Corporation had a negative net margin of 13.86% and a negative return on equity of 18.69%. The business had revenue of $15.24 million for the quarter, compared to the consensus estimate of $14.50 million. During the same period last year, the company earned ($0.19) EPS. The firm’s revenue was up 36.3% compared to the same quarter last year. research analysts forecast that Adesto Technologies Corporation will post -0.25 EPS for the current year.
In other Adesto Technologies Corporation news, VP Shane Hollmer sold 3,912 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $7.70, for a total transaction of $30,122.40. Following the completion of the transaction, the vice president now owns 118,677 shares in the company, valued at approximately $913,812.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Ishai Naveh sold 21,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $6.32, for a total transaction of $137,181.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,118 shares of company stock valued at $183,554. Company insiders own 22.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in IOTS. Pinnacle Associates Ltd. bought a new position in Adesto Technologies Corporation during the 2nd quarter worth approximately $112,000. Citadel Advisors LLC bought a new position in Adesto Technologies Corporation during the 3rd quarter worth approximately $113,000. Vanguard Group Inc. raised its holdings in Adesto Technologies Corporation by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock worth $578,000 after purchasing an additional 6,786 shares during the last quarter. Spark Investment Management LLC raised its holdings in Adesto Technologies Corporation by 79.6% during the 2nd quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock worth $801,000 after purchasing an additional 78,090 shares during the last quarter. Finally, Unterberg Capital LLC bought a new position in Adesto Technologies Corporation during the 2nd quarter worth approximately $1,433,000. Hedge funds and other institutional investors own 35.07% of the company’s stock.
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About Adesto Technologies Corporation
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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