Adesto Technologies Corporation (IOTS) Reaches New 1-Year High at $6.10
Adesto Technologies Corporation (NASDAQ:IOTS) shares reached a new 52-week high on Monday . The stock traded as high as $6.10 and last traded at $6.06, with a volume of 187,693 shares traded. The stock had previously closed at $5.40.
Several research analysts recently weighed in on IOTS shares. Needham & Company LLC boosted their price target on shares of Adesto Technologies Corporation from $6.00 to $7.00 and gave the stock a “strong-buy” rating in a report on Friday, May 12th. Zacks Investment Research lowered shares of Adesto Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. ValuEngine lowered shares of Adesto Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Benchmark Co. lifted their price objective on shares of Adesto Technologies Corporation from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Adesto Technologies Corporation presently has a consensus rating of “Buy” and an average price target of $5.75.
The company’s market cap is $87.11 million. The company has a 50 day moving average of $4.66 and a 200 day moving average of $4.46.
Adesto Technologies Corporation (NASDAQ:IOTS) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Adesto Technologies Corporation had a negative net margin of 21.41% and a negative return on equity of 44.81%. The company had revenue of $13.40 million for the quarter, compared to the consensus estimate of $12.98 million. During the same period in the prior year, the firm posted ($0.21) EPS. Adesto Technologies Corporation’s revenue for the quarter was up 30.1% on a year-over-year basis. On average, equities research analysts forecast that Adesto Technologies Corporation will post ($0.15) EPS for the current year.
Several hedge funds have recently made changes to their positions in IOTS. Spark Investment Management LLC bought a new stake in shares of Adesto Technologies Corporation during the first quarter worth about $407,000. Unterberg Capital LLC bought a new stake in shares of Adesto Technologies Corporation during the second quarter worth about $1,433,000. Herald Investment Management Ltd bought a new stake in shares of Adesto Technologies Corporation during the first quarter worth about $1,460,000. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in shares of Adesto Technologies Corporation by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,673,088 shares of the technology company’s stock worth $6,943,000 after buying an additional 378,233 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.
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About Adesto Technologies Corporation
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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