Netlist (OTCMKTS:NLST) Shares Gap Down – Here’s What Happened

Netlist, Inc. (OTCMKTS:NLST) shares gapped down before the market opened on Friday . The stock had previously closed at $3.10, but opened at $2.70. Netlist shares last traded at $2.71, with a volume of 1,570,125 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a “buy” rating and issued a $5.00 target price on shares of Netlist in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.00.

Netlist Stock Performance

The business’s 50 day moving average price is $1.87 and its 200-day moving average price is $1.24. The company has a market cap of $899.42 million, a price-to-earnings ratio of -140.35 and a beta of 1.33.

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, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $104.89 million for the quarter, compared to analyst estimates of $79.00 million.

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.