Netlist (OTCMKTS:NLST) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Netlist, Inc. (OTCMKTS:NLST) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.78 and traded as high as $3.03. Netlist shares last traded at $3.02, with a volume of 993,180 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NLST. Zacks Research upgraded shares of Netlist from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Roth Mkm reissued a “buy” rating and set a $5.00 price objective on shares of Netlist in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, Netlist presently has a consensus rating of “Strong Buy” and an average target price of $5.00.

Netlist Stock Performance

The stock has a 50-day moving average of $2.78 and a two-hundred day moving average of $1.78. The company has a market cap of $1.01 billion, a P/E ratio of -151.00 and a beta of 1.33.

Netlist (OTCMKTS:NLST) last released its earnings results 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 company had revenue of $104.89 million during the quarter, compared to analysts’ expectations of $79.00 million. Research analysts predict that Netlist, Inc. will post 0.03 EPS 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.