Analysts at Benchmark Co. started coverage on shares of Netlist Inc. (NASDAQ:NLST) in a report issued on Friday. The brokerage set a “buy” rating and a $4.00 price target on the stock. Benchmark Co.’s target price indicates a potential upside of 220.00% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. B. Riley assumed coverage on Netlist in a research note on Tuesday, September 27th. They set a “buy” rating and a $3.20 target price on the stock. Zacks Investment Research raised Netlist from a “sell” rating to a “hold” rating in a research note on Friday, July 1st.
Netlist (NASDAQ:NLST) opened at 1.25 on Friday. Netlist has a 52 week low of $0.39 and a 52 week high of $2.19. The stock’s market cap is $63.88 million. The firm’s 50-day moving average price is $1.52 and its 200-day moving average price is $1.38.
Netlist (NASDAQ:NLST) last released its earnings results on Wednesday, August 3rd. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.01. Netlist had a negative net margin of 78.90% and a negative return on equity of 2,840.55%. Equities analysts predict that Netlist will post ($0.21) earnings per share for the current fiscal year.
In other news, CEO Chun K. Hong sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $1.67, for a total transaction of $334,000.00. Following the transaction, the chief executive officer now owns 4,952,803 shares of the company’s stock, valued at $8,271,181.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.42% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Netlist by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,349,632 shares of the company’s stock valued at $1,579,000 after buying an additional 39,964 shares during the period. BlackRock Fund Advisors boosted its position in shares of Netlist by 1,346.9% in the second quarter. BlackRock Fund Advisors now owns 105,289 shares of the company’s stock valued at $123,000 after buying an additional 98,012 shares during the period. Finally, Fortress Investment Group LLC purchased a new position in shares of Netlist during the second quarter valued at about $788,000. 16.70% of the stock is currently owned by hedge funds and other institutional investors.
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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