Everspin Technologies (NASDAQ:MRAM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a buy rating in a research report report published on Wednesday.

Separately, Needham & Company LLC reiterated 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 Down 1.7 %

Everspin Technologies stock opened at $5.87 on Wednesday. The firm has a market capitalization of $128.96 million, a PE ratio of 97.83 and a beta of 0.90. The firm has a 50-day moving average price of $5.94 and a 200-day moving average price of $5.99. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.44.

Insider Buying and Selling

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total value of $97,077.42. Following the sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at $2,438,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 24,037 shares of company stock worth $132,561. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everspin Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its stake in Everspin Technologies by 17.0% during the 2nd quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after buying an additional 121,717 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Everspin Technologies by 3.0% during the first quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock worth $6,153,000 after buying an additional 22,657 shares during the last quarter. Herald Investment Management Ltd increased its holdings in shares of Everspin Technologies by 41.7% in the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock valued at $2,835,000 after purchasing an additional 139,817 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Everspin Technologies by 15.9% during the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after purchasing an additional 55,772 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in Everspin Technologies by 8.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 242,102 shares of the business services provider’s stock valued at $1,917,000 after buying an additional 19,700 shares during the last quarter. 44.68% of the stock is owned by institutional investors and hedge funds.

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.