Adesto Technologies Corp. (IOTS) Trading Up 15%
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) were up 15% during mid-day trading on Wednesday . The company traded as high as $3.65 and last traded at $3.61, with a volume of 55,437 shares changing hands. The stock had previously closed at $3.14.
A number of analysts recently issued reports on IOTS shares. Zacks Investment Research raised Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $6.00 price objective (down from $8.00) on shares of Adesto Technologies Corp. in a research report on Saturday, May 7th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. Benchmark Co. decreased their price objective on Adesto Technologies Corp. from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Adesto Technologies Corp. in a research report on Thursday, April 14th. Two research 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. The company has an average rating of “Buy” and an average target price of $8.20.
The stock has a 50-day moving average price of $3.50 and a 200 day moving average price of $4.96. The firm’s market capitalization is $52.43 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last announced its earnings results on Thursday, May 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Zacks’ 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 firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Adesto Technologies Corp. will post ($0.59) earnings per share for the current year.
In other Adesto Technologies Corp. news, CFO Ron Shelton bought 25,000 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average cost of $3.54 per share, with a total value of $88,500.00. Following the completion of the transaction, the chief financial officer now owns 25,000 shares in the company, valued at $88,500. The transaction was disclosed in a document filed with the SEC, which is available 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.
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