Adesto Technologies Corp. (NASDAQ:IOTS) shares traded down 2.9% during mid-day trading on Thursday . The company traded as low as $2.91 and last traded at $3.06, with a volume of 90,715 shares changing hands. The stock had previously closed at $3.15.

A number of research analysts recently issued reports on the company. Zacks Investment Research cut Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a report on Thursday, April 7th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $8.00 price target (down from $10.00) on shares of Adesto Technologies Corp. in a report on Wednesday, April 13th. Benchmark Co. cut their price target on Adesto Technologies Corp. from $9.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, April 13th. Oppenheimer Holdings Inc. cut Adesto Technologies Corp. from an “overweight” rating to a “market perform” rating in a report on Thursday, April 14th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Adesto Technologies Corp. in a report on Thursday, April 14th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.20.

The stock’s market capitalization is $45.39 million. The firm has a 50 day moving average of $3.53 and a 200 day moving average of $5.05.

Adesto Technologies Corp. (NASDAQ:IOTS) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $10.20 million for the quarter, compared to the consensus estimate of $10.20 million. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that Adesto Technologies Corp. will post ($0.59) earnings per share for the current fiscal year.

In related news, CFO Ron Shelton bought 25,000 shares of Adesto Technologies Corp. stock in a transaction dated Tuesday, May 10th. The shares were bought at an average cost of $3.54 per share, with a total value of $88,500.00. Following the acquisition, the chief financial officer now owns 25,000 shares in the company, valued at approximately $88,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.

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