Netlist (OTCMKTS:NLST) Trading Down 7.5% – Here’s Why

Netlist, Inc. (OTCMKTS:NLST)’s share price was down 7.5% on Tuesday . The company traded as low as $2.45 and last traded at $2.4505. Approximately 741,805 shares traded hands during trading, a decline of 58% from the average daily volume of 1,768,298 shares. The stock had previously closed at $2.65.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NLST shares. Roth Mkm reissued a “buy” rating and set a $5.00 target price on shares of Netlist in a research report on Wednesday, May 13th. Zacks Research raised shares of Netlist from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus price target of $5.00.

Netlist Price Performance

The stock has a market cap of $851.11 million, a P/E ratio of -127.50 and a beta of 1.40. The company’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $1.58.

Netlist (OTCMKTS:NLST) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $104.89 million during the quarter, compared to the consensus estimate of $79.00 million. On average, equities research analysts predict 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.