Adesto Technologies Corp (NASDAQ:IOTS) shares were down 10.2% during mid-day trading on Friday . The stock traded as low as $3.51 and last traded at $3.53. Approximately 786,997 shares traded hands during trading, an increase of 153% from the average daily volume of 311,569 shares. The stock had previously closed at $3.93.

Several research analysts have issued reports on IOTS shares. B. Riley dropped their target price on Adesto Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of Adesto Technologies in a report on Thursday, August 2nd. Canaccord Genuity started coverage on Adesto Technologies in a report on Monday, July 16th. They issued a “buy” rating and a $9.00 price target for the company. TheStreet lowered Adesto Technologies from a “c-” rating to a “d+” rating in a report on Monday, July 30th. Finally, ValuEngine upgraded Adesto Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Adesto Technologies presently has a consensus rating of “Buy” and an average price target of $9.86.

The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 0.89.

Adesto Technologies (NASDAQ:IOTS) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $18.18 million during the quarter, compared to analysts’ expectations of $18.17 million. Adesto Technologies had a negative net margin of 11.29% and a negative return on equity of 8.04%. As a group, analysts expect that Adesto Technologies Corp will post -0.3 EPS for the current fiscal year.

In other Adesto Technologies news, insider Narbeh Derhacobian acquired 10,000 shares of Adesto Technologies stock in a transaction that occurred on Monday, August 6th. The stock was bought at an average price of $5.14 per share, with a total value of $51,400.00. Following the completion of the purchase, the insider now directly owns 614,080 shares of the company’s stock, valued at approximately $3,156,371.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.40% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of IOTS. Element Capital Management LLC bought a new position in Adesto Technologies in the first quarter worth approximately $116,000. Rhumbline Advisers bought a new position in Adesto Technologies in the second quarter worth approximately $137,000. JPMorgan Chase & Co. bought a new position in Adesto Technologies in the first quarter worth approximately $159,000. Schwab Charles Investment Management Inc. bought a new position in Adesto Technologies in the second quarter worth approximately $283,000. Finally, Spark Investment Management LLC raised its stake in Adesto Technologies by 71.8% in the second quarter. Spark Investment Management LLC now owns 43,129 shares of the technology company’s stock worth $362,000 after buying an additional 18,029 shares in the last quarter. 38.00% of the stock is owned by institutional investors.

Adesto Technologies Company Profile (NASDAQ:IOTS)

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors for the Internet of Things (IoT) era. Its portfolio of semiconductor and embedded technologies are optimized for connected IoT devices used in industrial, consumer, communications, and medical applications.

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