Netlist, Inc. (OTCMKTS:NLST – Get Free Report)’s share price shot up 9.4% on Wednesday following a stronger than expected earnings report. The stock traded as high as $3.97 and last traded at $3.2980. 877,231 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 1,681,595 shares. The stock had previously closed at $3.0150.
The semiconductor company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The firm had revenue of $104.89 million for the quarter, compared to the consensus estimate of $79.00 million.
Analysts Set New Price Targets
Separately, Roth Mkm reiterated a “buy” rating and issued a $5.00 target price on shares of Netlist in a report on Wednesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Netlist presently has a consensus rating of “Buy” and an average target price of $5.00.
Netlist Stock Performance
The company’s 50-day moving average price is $1.80 and its 200 day moving average price is $1.20. The stock has a market capitalization of $1.05 billion, a PE ratio of -41.00 and a beta of 1.33.
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.
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