Shares of Netlist Inc. (NASDAQ:NLST) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus price target of $3.40 for the company and are expecting that the company will post ($0.09) EPS for the current quarter, according to Zacks. Zacks has also assigned Netlist an industry rank of 26 out of 265 based on the ratings given to its competitors.
NLST has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Netlist from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Benchmark Co. initiated coverage on shares of Netlist in a report on Friday, September 30th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, B. Riley initiated coverage on shares of Netlist in a report on Thursday, September 22nd. They issued a “buy” rating and a $3.20 price objective for the company.
In other Netlist news, CEO Chun K. Hong sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $1.67, for a total transaction of $334,000.00. Following the completion of the transaction, the chief executive officer now owns 4,952,803 shares in the company, valued at approximately $8,271,181.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 15.42% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its position in 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 last quarter. Fortress Investment Group LLC purchased a new position in Netlist during the second quarter valued at about $788,000. Finally, Vanguard Group Inc. raised its position in 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 last quarter. Hedge funds and other institutional investors own 16.70% of the company’s stock.
Shares of Netlist (NASDAQ:NLST) opened at 1.22 on Monday. The company’s 50 day moving average is $1.45 and its 200-day moving average is $1.37. The company’s market capitalization is $62.35 million. Netlist has a 1-year low of $0.42 and a 1-year high of $2.19.
Netlist (NASDAQ:NLST) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.03) earnings per share (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%. On average, equities research analysts forecast that Netlist will post ($0.21) EPS for the current year.
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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