Netlist (OTCMKTS:NLST) Shares Down 7.4% – Here’s Why

Netlist, Inc. (OTCMKTS:NLST) shares dropped 7.4% on Tuesday . The stock traded as low as $2.71 and last traded at $2.7310. Approximately 425,878 shares changed hands during trading, a decline of 76% from the average daily volume of 1,783,639 shares. The stock had previously closed at $2.95.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NLST shares. Roth Mkm reissued a “buy” rating and issued a $5.00 price objective on shares of Netlist in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Netlist from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average target price of $5.00.

Netlist Stock Down 13.1%

The stock has a 50 day simple moving average of $2.35 and a two-hundred day simple moving average of $1.51. The stock has a market capitalization of $855.79 million, a P/E ratio of -128.20 and a beta of 1.40.

Netlist (OTCMKTS:NLST) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $104.89 million for the quarter, compared to the consensus estimate of $79.00 million. Sell-side analysts predict that Netlist, Inc. will post 0.03 earnings per share for the current fiscal year.

Netlist Company Profile

Netlist, Inc is a technology company specializing in the design and development of high-performance memory and storage subsystems for enterprise and data center applications. The company’s product portfolio encompasses advanced memory modules, nonvolatile memory express (NVMe) solid-state drives and intelligent memory expansion systems. These solutions are engineered to boost memory density, bandwidth and overall system performance in hyperscale, cloud computing and high-performance computing environments.

Headquartered in Irvine, California, Netlist serves customers across the Americas and Asia through a combination of direct sales and channel distribution partners.