Netlist (OTCMKTS:NLST) Stock Price Passes Above Two Hundred Day Moving Average of $0.38

Shares of Netlist, Inc. (OTCMKTS:NLST) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.38 and traded as high as $0.28. Netlist shares last traded at $0.27, with a volume of 391,900 shares.

Separately, Zacks Investment Research upgraded shares of Netlist from a “hold” rating to a “buy” rating and set a $0.25 price target on the stock in a research note on Wednesday, August 14th.

The firm has a market cap of $41.26 million, a PE ratio of -1.69 and a beta of 0.92. The firm’s 50 day simple moving average is $0.36 and its 200 day simple moving average is $0.38.

Netlist (OTCMKTS:NLST) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $5.51 million during the quarter, compared to analysts’ expectations of $6.00 million. As a group, research analysts predict that Netlist, Inc. will post -0.09 EPS for the current year.

In other news, CEO Chun K. Hong sold 350,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $0.30, for a total transaction of $105,000.00. Following the sale, the chief executive officer now directly owns 1,066,748 shares in the company, valued at approximately $320,024.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.20% of the stock is currently owned by corporate insiders.

About Netlist (OTCMKTS:NLST)

Netlist, Inc designs, manufactures, and sells modular memory subsystems for the server, high-performance computing, and communications markets worldwide. It offers Hybri dual in-line memory module (DIMM), a storage class memory product, which unifies dynamic random access memory (DRAM)and NAND flash in a plug-and-play module delivering terabyte storage capacities operating at nanosecond memory speeds.

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