Adesto Technologies Corp. (IOTS) Sets New 12-Month Low at $2.41
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) reached a new 52-week low on Monday . The company traded as low as $2.41 and last traded at $2.49, with a volume of 36,200 shares traded. The stock had previously closed at $2.64.
A number of analysts have recently weighed in on IOTS shares. Zacks Investment Research raised Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $6.00 price objective (down previously from $8.00) on shares of Adesto Technologies Corp. in a research report on Saturday, May 7th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $7.80.
The firm’s market cap is $37.15 million. The company’s 50-day moving average is $3.34 and its 200-day moving average is $4.42.
Adesto Technologies Corp. (NASDAQ:IOTS) last released its earnings results on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The business had revenue of $10.30 million for the quarter, compared to analysts’ expectations of $10.20 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. 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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