Everspin Technologies (NASDAQ:MRAM) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a hold rating in a research report sent to investors on Friday.

Separately, Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research note on Thursday, October 31st.

Everspin Technologies Trading Up 0.5 %

Shares of Everspin Technologies stock opened at $5.64 on Friday. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.00. The stock has a market cap of $123.92 million, a PE ratio of 94.00 and a beta of 0.88. The company has a 50-day moving average of $6.15 and a two-hundred day moving average of $6.00.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The business had revenue of $13.20 million for the quarter, compared to analysts’ expectations of $12.50 million.

Institutional Trading of Everspin Technologies

A number of hedge funds have recently bought and sold shares of MRAM. Wells Fargo & Company MN boosted its position in Everspin Technologies by 42.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock worth $68,000 after acquiring an additional 3,159 shares during the last quarter. Wolverine Trading LLC acquired a new stake in Everspin Technologies during the fourth quarter worth approximately $71,000. Virtu Financial LLC acquired a new stake in Everspin Technologies during the fourth quarter worth approximately $75,000. Jane Street Group LLC acquired a new stake in Everspin Technologies during the third quarter worth approximately $82,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Everspin Technologies during the fourth quarter worth approximately $97,000. Institutional investors and hedge funds 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.