Adesto Technologies Corp. (IOTS) Stock Price Up 6.7%
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) rose 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 trading hands. The stock had previously closed at $2.84.
IOTS has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Roth Capital reiterated a “buy” rating on shares of Adesto Technologies Corp. in a research note on Thursday, April 14th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Adesto Technologies Corp. in a research note on Saturday, May 7th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Adesto Technologies Corp. in a research note on Wednesday, June 15th. Two 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 presently has a consensus rating of “Buy” and an average price target of $7.80.
The company’s 50 day moving average price is $3.40 and its 200 day moving average price is $4.51. The firm’s market capitalization is $39.93 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) EPS 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. Adesto Technologies Corp.’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS. Equities research analysts forecast that Adesto Technologies Corp. will post ($0.71) earnings per share 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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