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

Netlist, Inc. (OTCMKTS:NLST)’s share price gapped down prior to trading on Monday . The stock had previously closed at $2.85, but opened at $2.46. Netlist shares last traded at $2.82, with a volume of 806,406 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NLST. Zacks Research upgraded shares of Netlist from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Roth Mkm reaffirmed a “buy” rating and issued a $5.00 target price on shares of Netlist in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and an average target price of $5.00.

Netlist Trading Down 3.2%

The stock has a market cap of $894.84 million, a P/E ratio of -134.00 and a beta of 1.40. The company has a 50 day simple moving average of $2.60 and a 200 day simple moving average of $1.67.

Netlist (OTCMKTS:NLST) last released its quarterly earnings results 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. The firm had revenue of $104.89 million for the quarter, compared to analyst estimates of $79.00 million. As a group, sell-side analysts expect that Netlist, Inc. will post 0.03 earnings per share for the current 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.