Netlist (NASDAQ:NLST) Share Price Passes Above 50-Day Moving Average of $0.35

Netlist, Inc. (NASDAQ:NLST)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.35 and traded as high as $0.34. Netlist shares last traded at $0.32, with a volume of 109,822 shares.

Separately, Zacks Investment Research downgraded shares of Netlist from a “hold” rating to a “sell” rating in a research note on Saturday, May 18th.

The business has a 50 day moving average of $0.35.

Netlist (NASDAQ:NLST) last issued its quarterly earnings results on Tuesday, May 14th. The semiconductor company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $5.11 million during the quarter, compared to analysts’ expectations of $8.00 million.

In other Netlist news, CEO Chun K. Hong sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $0.35, for a total transaction of $52,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.90% of the stock is currently owned by company insiders.

About Netlist (NASDAQ: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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