Traders Are Bullish Adesto Technologies Corporation (IOTS) After The Stock Formed Bullish Multiple Top Chart Pattern

September 16, 2018 - By Lisa Delgado

Adesto Technologies Corporation (NASDAQ:IOTS) Logo

The stock of Adesto Technologies Corporation (IOTS) shows a multiple tops pattern with $6.62 target or 5.00 % above today’s $6.30 share price. The 8 months chart pattern indicates low risk for the $184.39M company. It was reported on Sep, 16 by Finviz.com. If the $6.62 price target is reached, the company will be worth $9.22 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 7.69% or $0.45 during the last trading session, reaching $6.3. About 326,786 shares traded. Adesto Technologies Corporation (NASDAQ:IOTS) has declined 23.08% since September 16, 2017 and is downtrending. It has underperformed by 38.70% the S&P500.

Analysts await Adesto Technologies Corporation (NASDAQ:IOTS) to report earnings on November, 14. They expect $-0.09 EPS, down 550.00 % or $0.11 from last year’s $0.02 per share. After $-0.11 actual EPS reported by Adesto Technologies Corporation for the previous quarter, Wall Street now forecasts -18.18 % EPS growth.

More recent Adesto Technologies Corporation (NASDAQ:IOTS) news were published by: Globenewswire.com which released: “Adesto Technologies to Participate at Upcoming Investor Events” on August 29, 2018. Also Seekingalpha.com published the news titled: “Adesto’s Acquisitions Will Propel The Company Forward” on September 08, 2018. Globenewswire.com‘s news article titled: “Adesto Completes Acquisition of Echelon” with publication date: September 14, 2018 was also an interesting one.

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific and ultra-low power non-volatile memory products. The company has market cap of $184.39 million. The firm offers standard serial flash products, including DataFlash for data-logging applications, such as industrial automation, home automation sensing, and health and fitness tracking; Fusion Flash for use in various high-volume consumer applications comprising wearables, mobile, and other applications; and EcoXip that enables enhanced processor performance and reduced system power consumption. It currently has negative earnings. It also provides conductive bridging random access memory based products, which include Mavriq for Internet of Things and other applications, which include camera sensors, Bluetooth low energy devices, wearables, gaming components, printer cartridges, medical equipment, and other devices; and Moneta for retail beacons, wearable medical and fitness devices, industrial and environmental sensors, agricultural monitors, and other low energy/long battery life, or energy harvesting system applications.

Adesto Technologies Corporation (NASDAQ:IOTS) Ratings Chart

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