Everspin Technologies (NASDAQ:MRAM) Downgraded by StockNews.com

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

Several other analysts have also weighed in on MRAM. Needham & Company LLC lowered their target price on Everspin Technologies from $12.00 to $8.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Craig Hallum decreased their price objective on Everspin Technologies from $11.00 to $10.00 and set a buy rating on the stock in a research note on Thursday, May 2nd.

Everspin Technologies Price Performance

Shares of MRAM stock opened at $6.25 on Thursday. The business’s fifty day moving average price is $6.13 and its 200 day moving average price is $7.33. Everspin Technologies has a 1-year low of $5.54 and a 1-year high of $10.50. The firm has a market capitalization of $134.51 million, a PE ratio of 16.89 and a beta of 0.91.

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

Insider Buying and Selling

In related news, CFO Anuj Aggarwal sold 12,984 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total transaction of $78,033.84. Following the transaction, the chief financial officer now directly owns 276,940 shares in the company, valued at $1,664,409.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sanjeev Aggarwal sold 17,631 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total value of $105,962.31. Following the transaction, the chief executive officer now directly owns 459,048 shares in the company, valued at approximately $2,758,878.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Anuj Aggarwal sold 12,984 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total value of $78,033.84. Following the completion of the transaction, the chief financial officer now owns 276,940 shares in the company, valued at $1,664,409.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,424 shares of company stock worth $207,009. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everspin Technologies

Large investors have recently modified their holdings of the company. Principal Securities Inc. purchased a new position in shares of Everspin Technologies in the 4th quarter worth about $32,000. AJOVista LLC purchased a new stake in shares of Everspin Technologies during the 4th quarter valued at about $43,000. Trexquant Investment LP purchased a new stake in shares of Everspin Technologies during the 4th quarter valued at about $171,000. Victory Capital Management Inc. grew its position in shares of Everspin Technologies by 70.4% in the 4th quarter. Victory Capital Management Inc. now owns 25,535 shares of the business services provider’s stock worth $231,000 after acquiring an additional 10,547 shares in the last quarter. Finally, Jump Financial LLC grew its position in shares of Everspin Technologies by 55.9% in the 4th quarter. Jump Financial LLC now owns 28,899 shares of the business services provider’s stock worth $261,000 after acquiring an additional 10,357 shares in the last quarter. 44.68% of the stock is currently owned by hedge funds and other 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.