Adesto Technologies Corp. (NASDAQ:IOTS) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.20 and last traded at $2.20, with a volume of 32,410 shares. The stock had previously closed at $2.26.

Several research analysts recently issued reports on IOTS shares. Roth Capital started coverage on Adesto Technologies Corp. in a research note on Thursday, September 1st. They issued a “buy” rating and a $4.00 price objective on the stock. Zacks Investment Research raised Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 22nd. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. Finally, Needham & Company LLC dropped their target price on Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Adesto Technologies Corp. has a consensus rating of “Buy” and an average price target of $6.60.

The company’s 50 day moving average is $2.59 and its 200 day moving average is $3.84. The firm’s market capitalization is $33.27 million.

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Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The firm had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $10.20 million. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Equities research analysts expect that Adesto Technologies Corp. will post ($0.71) earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC raised its stake in 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. Vanguard Group Inc. raised its stake 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 worth $210,000 after buying an additional 36,975 shares during the last quarter. Finally, Spark Investment Management LLC raised its stake 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 worth $130,000 after buying an additional 6,849 shares during the last quarter. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Adesto Technologies Corp. Company Profile

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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