Adesto Technologies (NASDAQ:IOTS) Shares Up 5.8%

Adesto Technologies Corp (NASDAQ:IOTS)’s share price shot up 5.8% during mid-day trading on Friday . The company traded as high as $7.64 and last traded at $7.60, 400,783 shares traded hands during trading. An increase of 31% from the average session volume of 306,168 shares. The stock had previously closed at $7.18.

Several equities research analysts have recently commented on IOTS shares. Needham & Company LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Adesto Technologies in a report on Wednesday, November 6th. Cowen boosted their target price on shares of Adesto Technologies from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BidaskClub lowered shares of Adesto Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. ValuEngine raised shares of Adesto Technologies from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Zacks Investment Research cut shares of Adesto Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Adesto Technologies presently has a consensus rating of “Buy” and an average price target of $11.50.

The company has a quick ratio of 1.56, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. The firm has a 50 day simple moving average of $7.85 and a 200-day simple moving average of $8.54. The stock has a market cap of $222.71 million, a P/E ratio of -27.14 and a beta of 1.10.

Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01. Adesto Technologies had a negative return on equity of 13.61% and a negative net margin of 21.81%. The company had revenue of $32.03 million during the quarter, compared to analysts’ expectations of $32.99 million. On average, equities analysts anticipate that Adesto Technologies Corp will post -0.19 earnings per share for the current year.

In related news, VP Thomas D. Spade sold 5,057 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $6.98, for a total value of $35,297.86. Following the transaction, the vice president now owns 65,252 shares in the company, valued at approximately $455,458.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas D. Spade sold 4,753 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $7.38, for a total transaction of $35,077.14. Following the completion of the transaction, the vice president now directly owns 70,309 shares in the company, valued at $518,880.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,810 shares of company stock worth $178,375. 12.36% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new position in shares of Adesto Technologies in the third quarter valued at approximately $36,000. First Interstate Bank bought a new position in Adesto Technologies during the 3rd quarter worth $77,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Adesto Technologies during the third quarter worth $78,000. Susquehanna International Group LLP acquired a new stake in shares of Adesto Technologies during the second quarter worth $95,000. Finally, Virtu Financial LLC bought a new stake in shares of Adesto Technologies in the third quarter valued at about $165,000. Hedge funds and other institutional investors own 75.82% of the company’s stock.

Adesto Technologies Company Profile (NASDAQ:IOTS)

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company's portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.

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