Netlist (OTCMKTS:NLST) Stock Falls 6.7% Following Weak Earnings

Netlist, Inc. (OTCMKTS:NLST) shares were down 6.7% on Wednesday following a dissappointing earnings announcement. The company traded as low as $5.9250 and last traded at $6.00. 958,481 shares traded hands during trading, a decline of 51% from the average session volume of 1,952,991 shares. The stock had previously closed at $6.43.

The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The business had revenue of $105.10 million for the quarter, compared to the consensus estimate of $308.60 million. Netlist had a net margin of 0.24% and a return on equity of 20.86%.

Wall Street Analyst Weigh In

Separately, Roth Capital restated a “buy” rating on shares of Netlist in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Netlist has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Institutional Trading of Netlist

An institutional investor recently bought a new stake in Netlist stock. Compass Financial Management LLC purchased a new position in shares of Netlist, Inc. (OTCMKTS:NLST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. Institutional investors own 0.01% of the company’s stock.

Netlist Stock Performance

The firm’s 50 day simple moving average is $5.75 and its 200 day simple moving average is $3.30.

Netlist Company Profile

Netlist, Inc. develops and supplies memory products and technologies for data-intensive computing. Its offerings include memory modules and memory subsystems used in servers, storage systems and other computing platforms. The company’s products include NVVault and other solutions designed to support data protection and performance in enterprise systems. Netlist also develops memory architectures and holds patents related to memory technology, which it seeks to commercialize through product sales and intellectual-property licensing.