Netlist (OTCMKTS:NLST) Trading 6.9% Higher – Here’s What Happened

Netlist, Inc. (OTCMKTS:NLST)’s stock price rose 6.9% during mid-day trading on Wednesday . The company traded as high as $5.48 and last traded at $5.47. Approximately 1,030,536 shares traded hands during trading, a decline of 46% from the average daily volume of 1,911,906 shares. The stock had previously closed at $5.1150.

Wall Street Analyst Weigh In

Several research analysts recently commented on NLST shares. Roth Capital restated a “buy” rating and issued a $15.00 price target on shares of Netlist in a report on Wednesday, August 12th. 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Netlist Stock Performance

The stock has a 50 day simple moving average of $3.39 and a 200 day simple moving average of $2.46.

Institutional Trading of Netlist

A hedge fund recently bought a new stake in Netlist stock. Compass Financial Management LLC acquired a new stake in shares of Netlist, Inc. (OTCMKTS:NLST) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. Hedge funds and other institutional investors own 0.01% of the company’s stock.

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.