Netlist (OTCMKTS:NLST) Stock Price Down 6.2% Following Analyst Downgrade

Shares of Netlist, Inc. (OTCMKTS:NLST) fell 6.2% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $2.60 and last traded at $2.6070. 945,747 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 1,660,992 shares. The stock had previously closed at $2.78.

Separately, Roth Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of Netlist in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Netlist Trading Down 0.6%

The stock has a 50 day moving average of $2.86 and a 200-day moving average of $1.90. The company has a market capitalization of $879.81 million, a P/E ratio of -131.75 and a beta of 1.33.

Netlist (OTCMKTS:NLST) last released its earnings results on Tuesday, May 12th. The semiconductor company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $104.89 million for the quarter, compared to the consensus estimate of $79.00 million. As a group, sell-side analysts expect that Netlist, Inc. will post 0.03 EPS 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.