Adesto Technologies (NASDAQ:IOTS) Now Covered by Analysts at Loop Capital

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Loop Capital initiated coverage on shares of Adesto Technologies (NASDAQ:IOTS) in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $13.00 target price on the technology company’s stock.

IOTS has been the subject of several other research reports. ValuEngine downgraded shares of Adesto Technologies from a strong-buy rating to a buy rating in a research note on Wednesday, September 4th. Northland Securities downgraded shares of Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 target price for the company. in a research note on Monday, August 12th. BidaskClub upgraded shares of Adesto Technologies from a buy rating to a strong-buy rating in a research note on Thursday, August 22nd. Finally, Zacks Investment Research downgraded shares of Adesto Technologies from a buy rating to a hold rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Adesto Technologies presently has a consensus rating of Buy and a consensus target price of $11.20.

IOTS opened at $9.13 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $9.97 and a 200-day moving average price of $7.92. Adesto Technologies has a twelve month low of $3.51 and a twelve month high of $11.97.

In related news, CFO Ron Shelton sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $10.02, for a total transaction of $150,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas D. Spade sold 9,217 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $9.91, for a total transaction of $91,340.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,980 shares of company stock valued at $398,061. 12.36% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Cadence Capital Management LLC purchased a new position in Adesto Technologies during the second quarter valued at approximately $2,289,000. BNP Paribas Arbitrage SA grew its stake in Adesto Technologies by 772.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock valued at $31,000 after acquiring an additional 4,556 shares in the last quarter. Royce & Associates LP grew its stake in Adesto Technologies by 24.1% during the first quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock valued at $5,236,000 after acquiring an additional 168,300 shares in the last quarter. Private Advisors LLC grew its stake in Adesto Technologies by 8.1% during the second quarter. Private Advisors LLC now owns 73,500 shares of the technology company’s stock valued at $599,000 after acquiring an additional 5,500 shares in the last quarter. Finally, JBF Capital Inc. grew its stake in Adesto Technologies by 8.3% during the second quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,500 shares in the last quarter. 64.52% of the stock is owned by institutional investors.

About Adesto Technologies

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company's portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.

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