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

Everspin Technologies (NASDAQ:MRAM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Separately, Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Everspin Technologies in a research report on Thursday.

Everspin Technologies Price Performance

Shares of Everspin Technologies stock traded down $0.31 during trading on Friday, hitting $5.87. 151,525 shares of the stock were exchanged, compared to its average volume of 119,498. The stock has a market cap of $127.61 million, a price-to-earnings ratio of 97.83 and a beta of 0.91. The firm’s 50-day moving average price is $5.86 and its 200 day moving average price is $6.09. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.69.

Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $10.64 million for the quarter. Everspin Technologies had a return on equity of 2.79% and a net margin of 2.85%.

Insiders Place Their Bets

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total value of $97,077.42. Following the completion of the sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 25,347 shares of company stock worth $139,635 in the last quarter. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Everspin Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Eastern Bank acquired a new stake in shares of Everspin Technologies during the 3rd quarter valued at approximately $50,000. Mackenzie Financial Corp acquired a new position in shares of Everspin Technologies in the 2nd quarter valued at about $70,000. Rhumbline Advisers bought a new stake in shares of Everspin Technologies during the 2nd quarter valued at about $129,000. Oppenheimer & Close LLC acquired a new stake in Everspin Technologies during the first quarter worth about $491,000. Finally, Total Clarity Wealth Management Inc. lifted its stake in Everspin Technologies by 11.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock valued at $517,000 after buying an additional 8,767 shares during the last quarter. 44.68% of the stock is owned by institutional investors.

Everspin Technologies Company Profile

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.