Netlist (OTCMKTS:NLST) Stock Price Up 9.3% – Here’s Why

Netlist, Inc. (OTCMKTS:NLST) shares rose 9.3% during trading on Thursday . The stock traded as high as $2.95 and last traded at $2.94. 1,331,374 shares were traded during trading, a decline of 24% from the average session volume of 1,741,310 shares. The stock had previously closed at $2.69.

Wall Street Analyst Weigh In

NLST has been the topic of several recent research reports. Roth Mkm reiterated a “buy” rating and issued a $5.00 price target on shares of Netlist in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Netlist from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Strong Buy” and an average target price of $5.00.

Netlist Stock Up 9.3%

The stock has a 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $1.68. The stock has a market capitalization of $981.64 million, a P/E ratio of -147.00 and a beta of 1.40.

Netlist (OTCMKTS:NLST) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $104.89 million for the quarter, compared to the consensus estimate of $79.00 million. Sell-side analysts predict that Netlist, Inc. will post 0.03 earnings per share for the current fiscal year.

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.