NeoPhotonics Corp Sets New 1-Year Low on Disappointing Earnings (NPTN)
Shares of NeoPhotonics Corp (NASDAQ:NPTN) reached a new 52-week low on Friday following a dissappointing earnings announcement, ARN reports. The company traded as low as $2.63 and last traded at $2.69, with a volume of 26,711 shares. The stock had previously closed at $2.75.
The company reported ($0.24) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.20) by $0.04. During the same quarter last year, the company posted ($0.11) earnings per share.
A number of research firms have recently commented on NPTN. Analysts at Needham & Company LLC cut their price target on shares of NeoPhotonics Corp from $10.00 to $7.00 in a research note on Monday, June 23rd. They now have a “buy” rating on the stock. Separately, analysts at B. Riley reiterated a “buy” rating on shares of NeoPhotonics Corp in a research note on Tuesday, June 17th. They now have a $7.75 price target on the stock, down previously from $9.00. Finally, analysts at B. Riley cut their price target on shares of NeoPhotonics Corp from $11.75 to $9.00 in a research note on Tuesday, May 20th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. NeoPhotonics Corp currently has a consensus rating of “Hold” and an average target price of $6.06.
The stock’s 50-day moving average is $3.53 and its 200-day moving average is $5.72. The company’s market cap is $84.2 million.
NeoPhotonics Corporation is a designer and manufacturer of photonic integrated circuit (NASDAQ:NPTN)-based modules and subsystems for bandwidth-intensive, high-speed communications networks.
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