Netlist (OTCMKTS:NLST) Hits New 52-Week High – Here’s What Happened

Netlist, Inc. (OTCMKTS:NLST)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $4.35 and last traded at $4.29, with a volume of 5540792 shares trading hands. The stock had previously closed at $4.03.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Roth Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Netlist in a research report on Wednesday. Zacks Research downgraded shares of Netlist from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Netlist Trading Up 1.6%

The firm has a fifty day simple moving average of $2.91 and a 200-day simple moving average of $2.21.

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 analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $104.89 million for the quarter, compared to analyst estimates of $79.00 million. Netlist had a negative return on equity of 29.40% and a net margin of 0.24%. As a group, equities analysts anticipate that Netlist, Inc. will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netlist

A hedge fund recently bought a new stake in Netlist stock. Compass Financial Management LLC purchased a new position in shares of Netlist, Inc. (OTCMKTS:NLST) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. 0.01% of the stock is currently owned by institutional investors.

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.