Adesto Technologies Corp (NASDAQ:IOTS) shares were up 14.1% on Thursday following a better than expected earnings announcement. The company traded as high as $5.45 and last traded at $5.27. Approximately 621,580 shares traded hands during trading, an increase of 99% from the average daily volume of 311,954 shares. The stock had previously closed at $4.62.
The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. Adesto Technologies had a negative return on equity of 8.04% and a negative net margin of 11.29%.
Several research analysts have recently commented on the company. ValuEngine raised Adesto Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Adesto Technologies in a research report on Wednesday, August 8th. B. Riley decreased their target price on Adesto Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a report on Thursday, August 2nd. TheStreet downgraded Adesto Technologies from a “c-” rating to a “d+” rating in a report on Monday, July 30th. Finally, Cowen started coverage on Adesto Technologies in a report on Monday, July 30th. They issued an “outperform” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $9.86.
The stock has a market cap of $131.41 million, a PE ratio of -21.96 and a beta of 1.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.13 and a quick ratio of 0.79.
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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