Netlist (OTCMKTS:NLST) Sees Strong Trading Volume – Here’s Why

Shares of Netlist, Inc. (OTCMKTS:NLST) saw strong trading volume on Thursday . 5,628,200 shares traded hands during mid-day trading, an increase of 217% from the previous session’s volume of 1,772,668 shares.The stock last traded at $5.00 and had previously closed at $4.93.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NLST shares. Roth Capital restated a “buy” rating and issued a $15.00 target price on shares of Netlist in a research note on Wednesday. Zacks Research cut Netlist from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Netlist presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Netlist Trading Up 18.5%

The firm’s fifty day moving average price is $2.97 and its 200-day moving average price is $2.23.

Netlist (OTCMKTS:NLST) last released its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $104.89 million for the quarter, compared to analysts’ expectations of $79.00 million. Netlist had a net margin of 0.24% and a return on equity of 20.86%. Sell-side analysts expect that Netlist, Inc. will post 0.79 EPS for the current year.

Hedge Funds Weigh In On Netlist

A hedge fund recently bought a new stake in Netlist stock. Compass Financial Management LLC bought a new stake in Netlist, Inc. (OTCMKTS:NLST) during the 2nd 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. Hedge funds and other institutional investors 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.