Netlist (OTCMKTS:NLST) Trading Up 9.1% – Still a Buy?

Netlist, Inc. (OTCMKTS:NLST)’s share price shot up 9.1% on Friday . The stock traded as high as $5.45 and last traded at $5.4090. Approximately 866,342 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,772,222 shares. The stock had previously closed at $4.96.

Wall Street Analysts Forecast Growth

NLST has been the topic of a number of research analyst reports. Zacks Research downgraded Netlist from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Roth Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Netlist in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Netlist has an average rating of “Moderate Buy” and an average price target of $15.00.

Netlist Price Performance

The company’s fifty day moving average price is $2.91 and its 200 day moving average price is $2.21.

Netlist (OTCMKTS:NLST) last released 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. Netlist had a net margin of 0.24% and a negative return on equity of 29.40%. The firm had revenue of $104.89 million for the quarter, compared to analyst estimates of $79.00 million. Analysts anticipate that Netlist, Inc. will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of Netlist

A hedge fund recently bought a new stake in Netlist stock. Compass Financial Management LLC purchased a new position in Netlist, Inc. (OTCMKTS:NLST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

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.