Adesto Technologies Corp. (NASDAQ:IOTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Adesto Technologies Corporation is a provider of application-specific non-volatile memory products. The company designed and built a portfolio of innovative products which includes Fusion Serial Flash, DataFlash(R) and Conductive Bridging RAM (R). It sells products directly to original equipment manufacturers and original design manufacturers. Adesto Technologies Corporation is headquartered in Sunnyvale, California. “

Other analysts have also issued reports about the stock. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. Needham & Company LLC decreased their price target on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 10th. Finally, Roth Capital assumed coverage on shares of Adesto Technologies Corp. in a research report on Thursday, September 1st. They set a “buy” rating and a $4.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $6.60.

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Shares of Adesto Technologies Corp. (NASDAQ:IOTS) traded down 0.88% during mid-day trading on Tuesday, reaching $2.26. 22,412 shares of the company traded hands. The firm’s market capitalization is $34.03 million. The firm has a 50-day moving average price of $2.59 and a 200 day moving average price of $3.84. Adesto Technologies Corp. has a 52 week low of $2.22 and a 52 week high of $8.50.

Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.02. The company had revenue of $10.30 million for the quarter, compared to the consensus estimate of $10.20 million. During the same period in the previous year, the business posted ($0.15) earnings per share. Adesto Technologies Corp.’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Adesto Technologies Corp. will post ($0.71) earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC raised its position in shares of Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock valued at $130,000 after buying an additional 6,849 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock valued at $210,000 after buying an additional 36,975 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its position in shares of Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock valued at $5,704,000 after buying an additional 497,912 shares during the last quarter. 25.20% of the stock is owned by hedge funds and other institutional investors.

About Adesto Technologies Corp.

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.

5 Day Chart for NASDAQ:IOTS

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