Penn Capital Management Co. Inc. bought a new stake in Netlist, Inc. (NASDAQ:NLST) during the third quarter, Holdings Channel reports. The institutional investor bought 1,102,782 shares of the company’s stock, valued at approximately $1,367,000. Penn Capital Management Co. Inc. owned approximately 2.16% of Netlist at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of NLST. AWM Investment Company Inc. increased its position in shares of Netlist by 14.3% in the third quarter. AWM Investment Company Inc. now owns 5,680,928 shares of the company’s stock valued at $7,044,000 after buying an additional 711,385 shares in the last quarter. Symmetry Peak Management LLC acquired a new position in shares of Netlist during the third quarter valued at approximately $124,000. Fortress Investment Group LLC acquired a new position in shares of Netlist during the second quarter valued at approximately $788,000. B. Riley Financial Inc. acquired a new position in shares of Netlist during the third quarter valued at approximately $906,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in shares of Netlist during the third quarter valued at approximately $188,000. Institutional investors own 22.92% of the company’s stock.
Netlist, Inc. (NASDAQ:NLST) remained flat at $1.01 during mid-day trading on Friday. The company had a trading volume of 53,984 shares. The stock’s 50 day moving average price is $1.04 and its 200-day moving average price is $1.24. Netlist, Inc. has a 52-week low of $0.93 and a 52-week high of $2.19. The firm’s market cap is $61.56 million.
Netlist (NASDAQ:NLST) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company earned $2.60 million during the quarter, compared to analysts’ expectations of $3.50 million. On average, equities research analysts forecast that Netlist, Inc. will post ($0.20) EPS for the current year.
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NLST has been the subject of several research analyst reports. Zacks Investment Research downgraded Netlist from a “hold” rating to a “sell” rating in a research note on Tuesday, January 17th. Benchmark Co. reissued a “buy” rating on shares of Netlist in a report on Tuesday, December 6th. Finally, B. Riley reissued a “buy” rating and set a $2.80 price target on shares of Netlist in a report on Sunday, November 20th.
Netlist, Inc designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs).
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