Shares of Netlist, Inc. (NASDAQ:NLST) rose 9.7% on Friday . The company traded as high as $0.40 and last traded at $0.34. Approximately 3,981,000 shares were traded during trading, an increase of 1,265% from the average daily volume of 291,718 shares. The stock had previously closed at $0.31.
NLST has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Netlist from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a report on Friday, September 15th. B. Riley reaffirmed a “buy” rating and set a $2.46 target price on shares of Netlist in a report on Sunday, September 10th. Finally, Roth Capital initiated coverage on shares of Netlist in a report on Thursday, August 24th. They set a “buy” rating and a $2.00 target price on the stock. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $1.74.
The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of -2.78.
A hedge fund recently raised its stake in Netlist stock. Royce & Associates LP grew its stake in Netlist, Inc. (NASDAQ:NLST) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,400,500 shares of the semiconductor company’s stock after buying an additional 200,000 shares during the period. Royce & Associates LP owned approximately 1.99% of Netlist worth $1,029,000 at the end of the most recent reporting period. 17.44% of the stock is owned by hedge funds and other institutional investors.
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Netlist, Inc designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs).
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