Adesto Technologies Corp. (IOTS) Stock Price Up 10.2%
Adesto Technologies Corp. (NASDAQ:IOTS) rose 10.2% during mid-day trading on Tuesday . The company traded as high as $2.80 and last traded at $2.70, with a volume of 79,094 shares. The stock had previously closed at $2.45.
IOTS has been the subject of a number of research reports. Zacks Investment Research lowered shares of Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th. Needham & Company LLC reissued a “strong-buy” rating and issued a $4.00 price objective (down previously from $6.00) on shares of Adesto Technologies Corp. in a report on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Adesto Technologies Corp. in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $7.80.
The stock’s market capitalization is $40.20 million. The stock’s 50 day moving average price is $3.24 and its 200 day moving average price is $4.31.
Adesto Technologies Corp. (NASDAQ:IOTS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The company earned $10.30 million during the quarter, compared to analysts’ expectations of $10.20 million. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) EPS. On average, equities research analysts expect that Adesto Technologies Corp. will post ($0.71) EPS for the current fiscal year.
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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