Netlist (OTCMKTS:NLST) Shares Down 12.7% – Here’s What Happened

Netlist, Inc. (OTCMKTS:NLST) dropped 12.7% during trading on Tuesday . The stock traded as low as $2.1280 and last traded at $2.1340. 1,025,686 shares traded hands during trading, a decline of 36% from the average daily volume of 1,598,156 shares. The stock had previously closed at $2.4435.

Analyst Ratings Changes

NLST has been the topic of several recent analyst reports. Roth Capital reaffirmed a “buy” rating on shares of Netlist in a research report on Thursday, July 16th. Zacks Research downgraded shares of Netlist from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Netlist Price Performance

The firm has a market capitalization of $800.01 million, a P/E ratio of -119.80 and a beta of 1.33. The business’s 50-day moving average is $2.78 and its 200 day moving average is $1.99.

Netlist (OTCMKTS:NLST) last posted its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $104.89 million during the quarter, compared to the consensus estimate of $79.00 million. Analysts anticipate that Netlist, Inc. will post 0.03 EPS 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.