Adesto Technologies Corp. (IOTS) Shares Down 2.9%
Adesto Technologies Corp. (NASDAQ:IOTS)’s share price was down 2.9% during trading on Thursday . The stock traded as low as $2.91 and last traded at $3.06, with a volume of 90,715 shares trading hands. The stock had previously closed at $3.15.
Several equities analysts have commented on IOTS shares. Zacks Investment Research upgraded Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $6.00 target price (down from $8.00) on shares of Adesto Technologies Corp. in a research report on Saturday, May 7th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Adesto Technologies Corp. in a research note on Wednesday, June 15th. Benchmark Co. decreased their price target on Adesto Technologies Corp. from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, April 13th. Finally, Roth Capital reissued a “buy” rating on shares of Adesto Technologies Corp. in a research note on Thursday, April 14th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $8.20.
The company’s market capitalization is $45.84 million. The firm’s 50 day moving average is $3.54 and its 200 day moving average is $5.08.
Adesto Technologies Corp. (NASDAQ:IOTS) last posted its earnings results on Thursday, May 5th. The company reported ($0.16) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). The business had revenue of $10.20 million for the quarter, compared to analysts’ expectations of $10.20 million. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that Adesto Technologies Corp. will post ($0.59) EPS for the current year.
In other Adesto Technologies Corp. news, CFO Ron Shelton bought 25,000 shares of Adesto Technologies Corp. stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average cost of $3.54 per share, for a total transaction of $88,500.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at $88,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Adesto Technologies Corporation is a provider of application-specific non-volatile memory (NVM) products. The Company optimizes its NVM products for Internet of Things (IoT) applications, including Internet-connected devices in the consumer electronics, industrial, medical and wearables markets. The Company’s NVM product families include DataFlash, Fusion Flash and Mavriq.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.