Netlist, Inc. (OTCMKTS:NLST) stock was in focus as the stock saw a sudden buying interest in the final few minutes of trading on Friday. After moving in a narrow range throughout the session, NLST stock closed higher by 20.50% to almost at a session high of $2.59.
Although there was no news, the stock may have jumped due to a technical breakout. The stock has been running higher since the beginning of this year with a jump of 285% YTD. Moreover, the stock had been consolidating in a narrow range over the past 2 months. The stock closed well above 50-day and 20-day moving averages of $2.15 and $2.17 respectively.
For the first quarter ended April 3, 2021, Net sales were $14.9 million, compared to net sales of $14.6 million for the quarter ended March 28, 2020. Gross was $1.5 million, or 10.1% of net sales, compared to a gross profit of $2.1 million, or 14.4% of net sales, for the quarter ended March 28, 2020.
Net loss for the first quarter ended April 3, 2021, was ($4.0) million, or a loss per share of ($0.02), compared to a net loss in the prior-year period of ($1.5) million, or a loss per share of ($0.01). These results include stock-based compensation expense of $0.3 million for the quarter ended April 3, 2021 and $0.2 million for the quarter ended March 28, 2020.
As of April 3, 2021, cash, cash equivalents and restricted cash was $26.5 million, total assets were $41.8 million, working capital was $6.9 million, total debt and accrued interest, net of debt discount, was $21.9 million, and stockholders’ equity was $7.1 million.