Netlist (OTCMKTS:NLST) Trading Down 12.7% – Here’s What Happened

Netlist, Inc. (OTCMKTS:NLST) shares traded down 12.7% on Tuesday . The company traded as low as $2.1280 and last traded at $2.1340. 1,025,686 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 1,598,156 shares. The stock had previously closed at $2.4435.

Analysts Set New Price Targets

Several research firms have recently weighed in on NLST. Zacks Research cut shares of Netlist from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Roth Capital restated a “buy” rating on shares of Netlist in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Netlist Price Performance

The company has a market capitalization of $814.69 million, a price-to-earnings ratio of -122.00 and a beta of 1.33. The firm has a 50-day moving average price of $2.78 and a two-hundred day moving average price of $2.01.

Netlist (OTCMKTS:NLST) last announced its earnings results on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $104.89 million during the quarter, compared to analyst estimates of $79.00 million. On average, equities analysts predict that Netlist, Inc. will post 0.03 EPS for the current year.

About Netlist

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.