Netlist (OTCMKTS:NLST) Trading 9.3% Higher – Here’s Why

Netlist, Inc. (OTCMKTS:NLST)’s stock price traded up 9.3% during mid-day trading on Thursday . The stock traded as high as $2.95 and last traded at $2.94. Approximately 1,331,374 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 1,741,310 shares. The stock had previously closed at $2.69.

Analysts Set New Price Targets

Several analysts recently commented on NLST shares. Zacks Research raised shares of Netlist from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Roth Mkm restated a “buy” rating and set a $5.00 price objective on shares of Netlist in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy” and an average price target of $5.00.

Netlist Stock Performance

The business has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $1.68. The stock has a market capitalization of $981.64 million, a price-to-earnings ratio of -147.00 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 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The firm had revenue of $104.89 million for the quarter, compared to the consensus estimate of $79.00 million. On average, sell-side analysts forecast 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.