Zacks: Netlist Inc. (NASDAQ:NLST) Given Consensus Rating of “Strong Buy” by Brokerages
Netlist Inc. (NASDAQ:NLST) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus price objective of $3.40 for the company and are forecasting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also given Netlist an industry rank of 46 out of 265 based on the ratings given to related companies.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Netlist from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. B. Riley assumed coverage on shares of Netlist in a research note on Thursday, September 22nd. They issued a “buy” rating and a $3.20 price objective on the stock. Finally, Benchmark Co. assumed coverage on shares of Netlist in a research note on Friday, September 30th. They issued a “buy” rating and a $4.00 price objective on the stock.
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Shares of Netlist (NASDAQ:NLST) traded up 0.0082% during midday trading on Monday, reaching $1.2201. 40,734 shares of the company’s stock traded hands. Netlist has a one year low of $0.43 and a one year high of $2.19. The firm’s market capitalization is $62.35 million. The stock’s 50-day moving average price is $1.48 and its 200 day moving average price is $1.38.
Netlist (NASDAQ:NLST) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Netlist had a negative net margin of 78.90% and a negative return on equity of 2,840.55%. On average, equities research analysts expect that Netlist will post ($0.21) earnings per share for the current fiscal year.
In other news, CEO Chun K. Hong sold 200,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $1.67, for a total value of $334,000.00. Following the transaction, the chief executive officer now owns 4,952,803 shares in the company, valued at approximately $8,271,181.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.42% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Fortress Investment Group LLC acquired a new position in shares of Netlist during the second quarter valued at $788,000. BlackRock Fund Advisors raised its stake in Netlist by 1,346.9% in the second quarter. BlackRock Fund Advisors now owns 105,289 shares of the company’s stock valued at $123,000 after buying an additional 98,012 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Netlist by 3.1% in the second quarter. Vanguard Group Inc. now owns 1,349,632 shares of the company’s stock valued at $1,579,000 after buying an additional 39,964 shares in the last quarter. Hedge funds and other institutional investors own 16.70% of the company’s stock.
Netlist Company Profile
Netlist, Inc designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs).
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