Adesto Technologies Corp. (IOTS) Stock Rating Lowered by Zacks Investment Research
Adesto Technologies Corp. (NASDAQ:IOTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Adesto Technologies Corporation is a provider of application-specific non-volatile memory products. The company designed and built a portfolio of innovative products which includes Fusion Serial Flash, DataFlash(R) and Conductive Bridging RAM (R). It sells products directly to original equipment manufacturers and original design manufacturers. Adesto Technologies Corporation is headquartered in Sunnyvale, California. “
Other equities analysts have also issued research reports about the company. Roth Capital initiated coverage on Adesto Technologies Corp. in a research report on Thursday, September 1st. They set a “buy” rating and a $4.00 price objective for the company. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. Finally, Needham & Company LLC lowered their price objective on Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $6.60.
Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.25 on Tuesday. The company’s 50-day moving average is $2.56 and its 200 day moving average is $3.83. Adesto Technologies Corp. has a 52-week low of $2.20 and a 52-week high of $8.50. The company’s market cap is $33.88 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.02. The business earned $10.30 million during the quarter, compared to analyst estimates of $10.20 million. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. Equities analysts forecast that Adesto Technologies Corp. will post ($0.71) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of IOTS. Spark Investment Management LLC raised its position in Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock valued at $130,000 after buying an additional 6,849 shares in the last quarter. Vanguard Group Inc. raised its position in Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock valued at $210,000 after buying an additional 36,975 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock valued at $5,704,000 after buying an additional 497,912 shares in the last quarter. 25.20% of the stock is owned by hedge funds and other institutional investors.
Adesto Technologies Corp. Company Profile
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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