Netlist (OTCMKTS:NLST) Sees Unusually-High Trading Volume – Here’s Why

Netlist, Inc. (OTCMKTS:NLST) saw unusually-high trading volume on Thursday . 5,628,200 shares were traded during trading, an increase of 217% from the previous session’s volume of 1,772,668 shares.The stock last traded at $5.00 and had previously closed at $4.93.

Analysts Set New Price Targets

Several research firms have commented on NLST. Zacks Research lowered Netlist from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Roth Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Netlist in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Netlist currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Netlist Stock Performance

The company has a 50 day moving average price of $2.87 and a two-hundred day moving average price of $2.18.

Netlist (OTCMKTS:NLST) last posted its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Netlist had a net margin of 0.24% and a negative return on equity of 29.40%. The company had revenue of $104.89 million during the quarter, compared to analysts’ expectations of $79.00 million. Research analysts anticipate that Netlist, Inc. will post 0.79 earnings per share for the current year.

Institutional Trading of Netlist

A hedge fund recently bought a new stake in Netlist stock. Compass Financial Management LLC purchased a new position in shares of Netlist, Inc. (OTCMKTS:NLST) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. 0.01% of the stock is currently owned by institutional investors.

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.