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

Shares of Netlist, Inc. (OTCMKTS:NLST) gapped down prior to trading on Wednesday . The stock had previously closed at $2.4310, but opened at $2.30. Netlist shares last traded at $2.3750, with a volume of 172,173 shares traded.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research lowered Netlist from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Roth Capital reaffirmed a “buy” rating on shares of Netlist in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Netlist has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Netlist Trading Down 2.5%

The firm has a market capitalization of $795.99 million, a PE ratio of -119.20 and a beta of 1.33. The firm has a 50-day moving average of $2.77 and a two-hundred day moving average of $2.02.

Netlist (OTCMKTS:NLST) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $79.00 million. Equities research analysts expect 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.