Shares of Adesto Technologies Corp (NASDAQ:IOTS) shot up 5.8% during mid-day trading on Tuesday . The stock traded as high as $10.64 and last traded at $10.63, 480,728 shares changed hands during trading. An increase of 152% from the average session volume of 190,551 shares. The stock had previously closed at $10.05.

Several brokerages recently issued reports on IOTS. Zacks Investment Research raised shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Tuesday. ValuEngine downgraded shares of Adesto Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. TheStreet downgraded shares of Adesto Technologies from a “c-” rating to a “d” rating in a research note on Wednesday, May 8th. Finally, Northland Securities downgraded shares of Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 target price for the company. in a research note on Monday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $10.33.

The stock has a market cap of $315.92 million, a P/E ratio of -37.96 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.19 and a quick ratio of 0.80. The stock’s 50 day moving average is $8.51.

In other news, VP Thomas D. Spade sold 9,217 shares of Adesto Technologies stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.91, for a total transaction of $91,340.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ron Shelton sold 3,889 shares of Adesto Technologies stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $7.86, for a total transaction of $30,567.54. Following the sale, the chief financial officer now owns 284,788 shares of the company’s stock, valued at $2,238,433.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,208 shares of company stock valued at $307,878. 12.36% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Adesto Technologies by 772.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after buying an additional 4,556 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Adesto Technologies by 193.8% during the second quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock worth $111,000 after buying an additional 13,879 shares during the period. JBF Capital Inc. lifted its stake in shares of Adesto Technologies by 8.3% during the second quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock worth $159,000 after buying an additional 1,500 shares during the period. Strategic Wealth Advisors Group LLC acquired a new stake in shares of Adesto Technologies during the first quarter worth $215,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Adesto Technologies by 56.8% during the fourth quarter. Bank of New York Mellon Corp now owns 88,512 shares of the technology company’s stock worth $389,000 after buying an additional 32,049 shares during the period. Institutional investors and hedge funds own 62.42% of the company’s stock.

Adesto Technologies Company Profile (NASDAQ:IOTS)

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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