Netlist (OTCMKTS:NLST) Shares Down 6.7% After Earnings Miss

Netlist, Inc. (OTCMKTS:NLST)’s share price fell 6.7% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.9250 and last traded at $6.00. 958,481 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,952,991 shares. The stock had previously closed at $6.43.

The semiconductor company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.38). The company had revenue of $105.10 million for the quarter, compared to the consensus estimate of $308.60 million. Netlist had a net margin of 0.24% and a return on equity of 20.86%.

Analysts Set New Price Targets

Separately, Roth Capital restated a “buy” rating on shares of Netlist in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Netlist has an average rating of “Moderate Buy” and an average target price of $15.00.

Institutional Investors Weigh In On Netlist

A hedge fund recently bought a new position in Netlist stock. Compass Financial Management LLC acquired a new stake in Netlist, Inc. (OTCMKTS:NLST) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,000 shares of the semiconductor company’s stock, valued at approximately $34,000. 0.01% of the stock is owned by institutional investors and hedge funds.

Netlist Price Performance

The business’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $3.30.

About Netlist

Netlist, Inc. develops and supplies memory products and technologies for data-intensive computing. Its offerings include memory modules and memory subsystems used in servers, storage systems and other computing platforms. The company’s products include NVVault and other solutions designed to support data protection and performance in enterprise systems. Netlist also develops memory architectures and holds patents related to memory technology, which it seeks to commercialize through product sales and intellectual-property licensing.