Netlist (OTCMKTS:NLST) Stock Price Down 6.2% – Here’s Why

Netlist, Inc. (OTCMKTS:NLST) was down 6.2% during mid-day trading on Wednesday . The company traded as low as $6.00 and last traded at $6.0010. Approximately 1,014,065 shares traded hands during trading, a decline of 46% from the average daily volume of 1,872,290 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

NLST has been the topic of a number of recent analyst reports. Zacks Research cut Netlist from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Roth Capital restated a “buy” rating and issued a $15.00 target price on shares of Netlist in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Netlist currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Netlist Stock Performance

The business’s 50-day simple moving average is $3.11 and its two-hundred day simple moving average is $2.31.

Institutional Investors Weigh In On Netlist

An institutional investor recently bought a new position in Netlist stock. Compass Financial Management LLC bought a new stake in shares of Netlist, Inc. (OTCMKTS:NLST) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

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.