Adesto Technologies Corp. (IOTS) Sets New 52-Week Low at $2.41
Adesto Technologies Corp. (NASDAQ:IOTS)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $2.41 and last traded at $2.49, with a volume of 36,200 shares. The stock had previously closed at $2.64.
Several equities analysts recently commented on IOTS shares. Zacks Investment Research lowered Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Needham & Company LLC reissued a “strong-buy” rating and set a $6.00 price target (down from $8.00) on shares of Adesto Technologies Corp. in a research report on Saturday, May 7th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.80.
The stock’s 50-day moving average price is $3.38 and its 200 day moving average price is $4.48. The firm’s market cap is $38.05 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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 revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. On average, equities research analysts anticipate that Adesto Technologies Corp. will post ($0.71) 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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