Shares of Netlist Inc (OTCMKTS:NLST) have been gaining momentum over the past week.
Trading Data
On Monday, NLST stock moved up 2.20% to $5.11 with more than 310K shares, compared to its average volume of 708k shares. The stock moved within a range of $4.96 – 5.23 after opening trade at $5.
Netlist Reports Full Year and Fourth Quarter 2021 Results
Netlist, Inc (OTCMKTS:NLST) on March 1, 2022, came out with financial results for the entire year as well as for quarter four ending January 1. While the company’s revenues surged by 201% to $142.4 million compared to $47.2 million last year, its gross profit surged by 626% to $48.9 million. Netlist had a net income of $4.8 million even as its current ratio surged by 159%.
Netlist’s Chief Executive Officer, C.K. Hong said that the firm delivered robust financial results due to an increase both in gross profit as well as revenue in 2021. Hong added that the firm doubled product sales, entered into a strategic partnership with a leading memory chipmaker, and also made progress in IP initiatives.
The CEO added that the achievements validate the strategies put in place both for licensing as well as sales and will ensure continued growth in the coming year.
The company’s cash and cash equivalents were $58.5 million, whereas its total assets were $91.2 million. The CEO and CFO Gail Sasaki, held an investor conference call. The firm had a net loss for quarter four of $8.2 million as compared to $1.8 million in the previous year. The results included a stock-based compensation expense of $0.4 million as well as $0.2 million for the quarter ending January 1, 2022, and January 2, 2021.
Technical Data
NLST stock is trading above the 20-Day and 50-Day Moving averages of $4.99 and $5.03 respectively. However, the stock is trading below the 200-Day moving average of $5.77.
