Thomas D. Spade Sells 5,057 Shares of Adesto Technologies Corp (NASDAQ:IOTS) Stock

Adesto Technologies Corp (NASDAQ:IOTS) VP Thomas D. Spade sold 5,057 shares of the 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.

Shares of IOTS stock traded down $0.22 on Monday, reaching $6.98. 236,166 shares of the company’s stock were exchanged, compared to its average volume of 306,908. Adesto Technologies Corp has a 52 week low of $4.10 and a 52 week high of $11.97. The company has a current ratio of 1.90, a quick ratio of 1.56 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $217.57 million, a PE ratio of -24.93 and a beta of 1.10. The company’s fifty day simple moving average is $8.04 and its 200 day simple moving average is $8.56.

Adesto Technologies (NASDAQ:IOTS) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $32.03 million during the quarter, compared to analyst estimates of $32.99 million. As a group, sell-side analysts predict that Adesto Technologies Corp will post -0.19 earnings per share for the current fiscal year.

IOTS has been the topic of a number of recent research reports. Craig Hallum initiated coverage on Adesto Technologies in a report on Thursday, September 19th. They issued a “buy” rating and a $13.00 target price on the stock. TheStreet raised Adesto Technologies from a “d” rating to a “c-” rating in a research note on Wednesday, November 6th. Northland Securities downgraded Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a research note on Monday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Adesto Technologies in a research note on Wednesday, November 6th. Finally, Zacks Investment Research downgraded Adesto Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Adesto Technologies has a consensus rating of “Buy” and a consensus price target of $11.50.

Several hedge funds have recently modified their holdings of IOTS. Wells Fargo & Company MN lifted its stake in shares of Adesto Technologies by 23.1% during the 2nd quarter. Wells Fargo & Company MN now owns 48,426 shares of the technology company’s stock worth $395,000 after acquiring an additional 9,092 shares during the last quarter. JPMorgan Chase & Co. raised its position in Adesto Technologies by 193.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock valued at $111,000 after purchasing an additional 13,879 shares in the last quarter. Private Advisors LLC raised its position in Adesto Technologies by 8.1% during the 2nd quarter. Private Advisors LLC now owns 73,500 shares of the technology company’s stock valued at $599,000 after purchasing an additional 5,500 shares in the last quarter. JBF Capital Inc. raised its position in Adesto Technologies by 8.3% during the 2nd quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock valued at $159,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Northeast Financial Consultants Inc bought a new stake in Adesto Technologies during the 2nd quarter valued at $554,000. 75.82% of the stock is owned by hedge funds and other institutional investors.

Adesto Technologies Company Profile

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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