Adesto Technologies Corp. (IOTS) Trading 6.7% Higher
Adesto Technologies Corp. (NASDAQ:IOTS) traded up 6.7% on Wednesday . The stock traded as high as $3.50 and last traded at $3.03, with a volume of 59,552 shares traded. The stock had previously closed at $2.84.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Roth Capital reaffirmed a “buy” rating on shares of Adesto Technologies Corp. in a research report on Thursday, April 14th. Benchmark Co. lowered their price target on shares of 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. Oppenheimer Holdings Inc. cut shares of Adesto Technologies Corp. from an “overweight” rating to a “market perform” rating in a research report on Thursday, April 14th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $8.00 price target (down previously from $10.00) on shares of Adesto Technologies Corp. in a research report on Wednesday, April 13th. Two equities 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 a consensus target price of $7.80.
The stock’s market capitalization is $43.74 million. The company has a 50-day moving average of $3.43 and a 200-day moving average of $4.53.
Adesto Technologies Corp. (NASDAQ:IOTS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $10.30 million for the quarter, compared to analyst estimates of $10.20 million. During the same period in the previous year, the company posted ($0.15) EPS. Adesto Technologies Corp.’s revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Adesto Technologies Corp. will post ($0.67) earnings per share for the current 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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