Netlist (OTCMKTS:NLST) Shares Pass Above 200 Day Moving Average – Here’s Why

Netlist, Inc. (OTCMKTS:NLST)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.86 and traded as high as $2.92. Netlist shares last traded at $2.85, with a volume of 468,514 shares changing hands.

Wall Street Analyst Weigh In

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

Netlist Trading Up 0.4%

The business’s 50 day simple moving average is $2.85 and its 200 day simple moving average is $1.86. The firm has a market capitalization of $951.59 million, a PE ratio of -142.50 and a beta of 1.33.

Netlist (OTCMKTS:NLST) last announced its earnings results on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The business had revenue of $104.89 million for the quarter, compared to analysts’ expectations of $79.00 million. Analysts forecast 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.