Netlist (OTCMKTS:NLST) Shares Up 6.8% – Still a Buy?

Netlist, Inc. (OTCMKTS:NLST) shares shot up 6.8% during trading on Wednesday . The company traded as high as $2.74 and last traded at $2.6710. 449,237 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,793,499 shares. The stock had previously closed at $2.50.

Analyst Ratings Changes

A number of brokerages recently weighed in on NLST. 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. Zacks Research raised shares of Netlist from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, Netlist has an average rating of “Strong Buy” and an average price target of $5.00.

Netlist Trading Up 6.5%

The stock’s 50 day moving average is $2.37 and its two-hundred day moving average is $1.53. The stock has a market capitalization of $888.33 million, a price-to-earnings ratio of -133.08 and a beta of 1.40.

Netlist (OTCMKTS:NLST) last posted its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $104.89 million for the quarter, compared to analyst estimates of $79.00 million. On average, research analysts anticipate that Netlist, Inc. will post 0.03 earnings per share for the current year.

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.