Netlist (OTCMKTS:NLST) Shares Gap Up – Here’s Why

Netlist, Inc. (OTCMKTS:NLST) shares gapped up before the market opened on Monday . The stock had previously closed at $5.88, but opened at $6.14. Netlist shares last traded at $6.70, with a volume of 1,761,522 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Roth Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Netlist in a research note on Wednesday. Zacks Research lowered shares of Netlist from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.00.

Netlist Stock Performance

The company has a 50 day simple moving average of $2.97 and a two-hundred day simple moving average of $2.24.

Institutional Investors Weigh In On Netlist

A hedge fund recently bought a new stake in Netlist stock. Compass Financial Management LLC purchased a new position in Netlist, Inc. (OTCMKTS:NLST) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

Netlist Company Profile

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.