Netlist (OTCMKTS:NLST) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Netlist (OTCMKTS:NLST) shares surpassed their 200-day moving average of $0.81, trading as high as $0.90 during recent sessions.
• Analysts have upgraded Netlist's rating from "sell" to "hold," with a consensus rating of "Buy" and an average target price of $2.00.
• The company reported earnings of $41.71 million for the quarter, exceeding analyst expectations of $30 million, while the EPS was as projected at ($0.02).

Netlist, Inc. (OTCMKTS:NLST - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.81 and traded as high as $0.90. Netlist shares last traded at $0.89, with a volume of 689,919 shares.

Wall Street Analysts Forecast Growth

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

Netlist Stock Performance

The firm has a market capitalization of $243.24 million, a P/E ratio of -5.94 and a beta of 1.16. The business has a 50 day simple moving average of $0.74 and a two-hundred day simple moving average of $0.81.

Netlist (OTCMKTS:NLST - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The semiconductor company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.02). The firm had revenue of $41.71 million during the quarter, compared to analysts' expectations of $30.00 million. On average, equities analysts anticipate that Netlist, Inc. will post -0.17 earnings per share for the current fiscal year.

Netlist Company Profile

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.