Netlist (OTCMKTS:NLST) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Netlist, Inc. shares recently crossed above their 200-day moving average of $0.80, reaching a high of $1.00 during trading, with current trading at $0.94.
• Wall Street analysts have upgraded Netlist from a "sell" to a "hold" rating, with a consensus price target of $2.00 and one analyst rating it as a Buy.
• The company's earnings for the last quarter met expectations at ($0.02) earnings per share, with revenue of $41.71 million, significantly above analysts' expectations of $30.00 million.

Netlist, Inc. (OTCMKTS:NLST - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.80 and traded as high as $1.00. Netlist shares last traded at $0.94, with a volume of 1,839,316 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Netlist from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $2.00.

Netlist Trading Up 2.1%

The firm has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $0.80. The company has a market capitalization of $275.07 million, a PE ratio of -6.71 and a beta of 1.29.

Netlist (OTCMKTS:NLST - Get Free Report) last announced its earnings results on Thursday, August 7th. The semiconductor company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The company had revenue of $41.71 million during the quarter, compared to analysts' expectations of $30.00 million. Research analysts expect that Netlist, Inc. will post -0.17 earnings per share for the current fiscal year.

About Netlist

Netlist, Inc designs, manufactures, and markets memory subsystems for the server, high-performance computing, and communications markets in the United States and internationally. The company portfolio of proprietary technologies and design techniques, includes efficient planar design, alternative packaging techniques, and custom semiconductor logic, to deliver memory subsystems; and sells specialty memory modules and flash-based products for use in data center and industrial applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.