Everspin Technologies (NASDAQ:MRAM) Cut to “Buy” at StockNews.com

StockNews.com cut shares of Everspin Technologies (NASDAQ:MRAM) from a strong-buy rating to a buy rating in a report published on Friday.

A number of other equities research analysts have also recently issued reports on the stock. Craig Hallum dropped their price target on shares of Everspin Technologies from $11.00 to $10.00 and set a buy rating on the stock in a research note on Thursday. Needham & Company LLC dropped their target price on shares of Everspin Technologies from $12.00 to $8.00 and set a buy rating on the stock in a research report on Thursday.

Everspin Technologies Price Performance

MRAM opened at $6.39 on Friday. The stock has a market cap of $137.51 million, a P/E ratio of 17.27 and a beta of 0.99. The firm has a fifty day moving average price of $7.88 and a 200 day moving average price of $8.53. Everspin Technologies has a 1 year low of $6.11 and a 1 year high of $10.50.

Everspin Technologies (NASDAQ:MRAM) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $14.43 million for the quarter. Everspin Technologies had a net margin of 12.77% and a return on equity of 15.70%. During the same quarter in the previous year, the business earned $0.04 EPS.

Insider Activity at Everspin Technologies

In other Everspin Technologies news, VP David Schrenk sold 5,000 shares of Everspin Technologies stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $8.03, for a total transaction of $40,150.00. Following the sale, the vice president now owns 115,767 shares of the company’s stock, valued at approximately $929,609.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Anuj Aggarwal sold 12,852 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $7.84, for a total transaction of $100,759.68. Following the completion of the sale, the chief financial officer now owns 289,924 shares of the company’s stock, valued at $2,273,004.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Schrenk sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $8.03, for a total transaction of $40,150.00. Following the sale, the vice president now directly owns 115,767 shares of the company’s stock, valued at approximately $929,609.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,968 shares of company stock valued at $590,033. 6.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Everspin Technologies

A number of large investors have recently modified their holdings of the business. Principal Securities Inc. purchased a new stake in shares of Everspin Technologies in the fourth quarter valued at about $32,000. AJOVista LLC acquired a new position in Everspin Technologies in the fourth quarter valued at about $43,000. Barclays PLC acquired a new position in Everspin Technologies in the third quarter valued at about $99,000. Silverberg Bernstein Capital Management LLC acquired a new position in Everspin Technologies in the fourth quarter valued at about $93,000. Finally, Jump Financial LLC acquired a new position in Everspin Technologies in the third quarter valued at about $182,000. Hedge funds and other institutional investors own 44.68% of the company’s stock.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.