Adesto Technologies Corp. (IOTS) Stock Price Up 10.2%
Adesto Technologies Corp. (NASDAQ:IOTS) shares rose 10.2% on Tuesday . The stock traded as high as $2.80 and last traded at $2.70, with a volume of 79,094 shares traded. The stock had previously closed at $2.45.
Several brokerages have recently commented on IOTS. Zacks Investment Research downgraded shares of Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 16th. Needham & Company LLC restated a “strong-buy” rating and set a $4.00 price objective (down from $6.00) on shares of Adesto Technologies Corp. in a research report on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $7.80.
The firm’s 50-day moving average is $3.20 and its 200-day moving average is $4.27. The company’s market capitalization is $38.39 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last posted its earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.02. During the same period in the prior year, the company posted ($0.15) EPS. The company had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $10.20 million. Adesto Technologies Corp.’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts predict 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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