Today, the President & CEO of Adesto Technologies Corp (NASDAQ: IOTS), Derhacobian Narbeh, bought shares of IOTS for $51.3K.
This recent transaction increases Derhacobian Narbeh’s holding in the company by 1.66% to a total of $3.13 million.
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Based on Adesto Technologies Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $18.18 million and GAAP net loss of $5.06 million. In comparison, last year the company earned revenue of $13.41 million and had a GAAP net loss of $1.75 million. Currently, Adesto Technologies Corp has an average volume of 518.3K.
Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $10.00, reflecting a -49.0% downside. Starting in August 2017, IOTS received 20 Buy ratings in a row. Seven different firms, including B.Riley FBR and Canaccord Genuity, currently also have a Buy rating on the stock.
The insider sentiment on Adesto Technologies Corp has been positive according to 80 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
Derhacobian Narbeh’s trades have generated a 204.7% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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Adesto Technologies Corp. engages in the development, manufacture, and market of non-volatile memory products. It offers DataFlash, Fusion Serial Flash, Standard Serial Flash, EcoXiP, Mavriq and Moneta. The company was founded by Narbeh Derhacobian, Ishai Naveh, and Shane Hollmer in January 2006 and is headquartered in Santa Clara, CA.
