Adesto Technologies Corporation (NASDAQ:IOTS)’s share price reached a new 52-week high on Monday . The company traded as high as $7.20 and last traded at $7.20, with a volume of 547,337 shares changing hands. The stock had previously closed at $6.65.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Adesto Technologies Corporation from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Thursday, June 29th. Needham & Company LLC reissued a “strong-buy” rating and issued a $10.00 price objective (up from $7.00) on shares of Adesto Technologies Corporation in a research report on Wednesday, August 9th. Benchmark Co. increased their price target on shares of Adesto Technologies Corporation from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, ValuEngine raised shares of Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd.
The company’s market cap is $163.36 million. The company has a 50-day moving average of $7.20 and a 200 day moving average of $4.34.
Adesto Technologies Corporation (NASDAQ:IOTS) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. Adesto Technologies Corporation had a negative net margin of 21.41% and a negative return on equity of 35.81%. The firm had revenue of $13.40 million for the quarter, compared to the consensus estimate of $12.98 million. During the same quarter last year, the firm posted ($0.21) EPS. The business’s quarterly revenue was up 30.1% on a year-over-year basis. Equities analysts forecast that Adesto Technologies Corporation will post ($0.13) EPS for the current fiscal year.
In other news, VP Ishai Naveh sold 21,706 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $6.32, for a total transaction of $137,181.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 22.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. bought a new position in shares of Adesto Technologies Corporation during the 2nd quarter worth about $112,000. Spark Investment Management LLC bought a new position in shares of Adesto Technologies Corporation during the 1st quarter worth about $407,000. Vanguard Group Inc. increased its holdings in shares of Adesto Technologies Corporation by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock worth $578,000 after purchasing an additional 6,786 shares during the period. Unterberg Capital LLC bought a new position in shares of Adesto Technologies Corporation during the 2nd quarter worth about $1,433,000. Finally, Herald Investment Management Ltd bought a new position in shares of Adesto Technologies Corporation during the 1st quarter worth about $1,460,000. Institutional investors own 33.70% of the company’s stock.
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About Adesto Technologies Corporation
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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