Shares of Adesto Technologies Corp. (NASDAQ:IOTS) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.25.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Roth Capital initiated coverage on shares of Adesto Technologies Corp. in a research note on Thursday, September 1st. They issued a “buy” rating and a $4.00 target price for the company. Needham & Company LLC lowered their target price on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a research note on Wednesday, August 10th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Adesto Technologies Corp. in a research note on Wednesday, June 15th.
Adesto Technologies Corp. (NASDAQ:IOTS) traded down 1.93% on Wednesday, reaching $2.54. The company’s stock had a trading volume of 38,437 shares. The stock’s market capitalization is $38.24 million. The firm has a 50 day moving average price of $2.32 and a 200 day moving average price of $3.59. Adesto Technologies Corp. has a 52 week low of $1.98 and a 52 week high of $8.50.
Adesto Technologies Corp. (NASDAQ:IOTS) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.02. The firm had revenue of $10.30 million for the quarter, compared to analyst estimates of $10.20 million. During the same period last year, the business posted ($0.15) earnings per share. Adesto Technologies Corp.’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts anticipate that Adesto Technologies Corp. will post ($0.71) EPS for the current year.
Several institutional investors have recently made changes to their positions in IOTS. Gilder Gagnon Howe & Co. LLC raised its position in shares of Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock worth $5,704,000 after buying an additional 497,912 shares during the period. Vanguard Group Inc. raised its position in shares of Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock worth $210,000 after buying an additional 36,975 shares during the period. Finally, Spark Investment Management LLC raised its position in shares of Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock worth $130,000 after buying an additional 6,849 shares during the period. Institutional investors own 25.20% of the company’s stock.