Nokomis Capital L.L.C. reduced its position in shares of Adesto Technologies Corp (NASDAQ:IOTS) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 768,165 shares of the technology company’s stock after selling 132,557 shares during the quarter. Adesto Technologies accounts for 1.1% of Nokomis Capital L.L.C.’s investment portfolio, making the stock its 28th biggest holding. Nokomis Capital L.L.C. owned about 3.63% of Adesto Technologies worth $4,955,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Millennium Management LLC raised its stake in Adesto Technologies by 1,027.1% during the 4th quarter. Millennium Management LLC now owns 321,177 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 292,681 shares during the period. Goldman Sachs Group Inc. acquired a new stake in Adesto Technologies during the 4th quarter valued at $162,000. Deutsche Bank AG raised its stake in Adesto Technologies by 184.7% during the 4th quarter. Deutsche Bank AG now owns 135,231 shares of the technology company’s stock valued at $872,000 after purchasing an additional 87,731 shares during the period. Driehaus Capital Management LLC raised its stake in Adesto Technologies by 9.7% during the 4th quarter. Driehaus Capital Management LLC now owns 947,060 shares of the technology company’s stock valued at $6,109,000 after purchasing an additional 83,490 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Adesto Technologies by 95.8% during the 4th quarter. Renaissance Technologies LLC now owns 250,200 shares of the technology company’s stock valued at $1,614,000 after purchasing an additional 122,400 shares during the period. 45.10% of the stock is currently owned by institutional investors.
Shares of Adesto Technologies Corp (NASDAQ IOTS) opened at $6.65 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.41 and a quick ratio of 3.98. Adesto Technologies Corp has a one year low of $3.60 and a one year high of $9.20.
In other news, VP Janet Wang sold 8,333 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.50, for a total transaction of $54,164.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 22.10% of the company’s stock.
Several analysts have issued reports on IOTS shares. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Adesto Technologies in a research note on Wednesday, January 17th. Zacks Investment Research raised shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Wednesday, November 15th. Finally, TheStreet raised shares of Adesto Technologies from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $8.67.
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About Adesto Technologies
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.
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