Netlist (OTCMKTS:NLST) Stock Price Down 6.2% – Time to Sell?

Netlist, Inc. (OTCMKTS:NLST)’s stock price traded down 6.2% on Wednesday . The company traded as low as $6.00 and last traded at $6.0010. 1,014,065 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,872,290 shares. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Zacks Research downgraded shares of Netlist from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Roth Capital restated a “buy” rating and issued a $15.00 price objective on shares of Netlist in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Netlist Stock Down 13.2%

The company’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $2.37.

Institutional Investors Weigh In On Netlist

A hedge fund recently bought a new position in Netlist stock. Compass Financial Management LLC purchased a new position in shares of Netlist, Inc. (OTCMKTS:NLST) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. Institutional investors and hedge funds own 0.01% of the company’s stock.

About Netlist

Netlist, Inc is a technology company specializing in the design and development of high-performance memory and storage subsystems for enterprise and data center applications. The company’s product portfolio encompasses advanced memory modules, nonvolatile memory express (NVMe) solid-state drives and intelligent memory expansion systems. These solutions are engineered to boost memory density, bandwidth and overall system performance in hyperscale, cloud computing and high-performance computing environments.

Headquartered in Irvine, California, Netlist serves customers across the Americas and Asia through a combination of direct sales and channel distribution partners.