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

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

MRAM has been the subject of several other reports. Needham & Company LLC lowered their price objective on Everspin Technologies from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday. Craig Hallum decreased their price target on Everspin Technologies from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday.

Everspin Technologies Stock Down 1.8 %

Shares of MRAM opened at $6.39 on Friday. Everspin Technologies has a 52-week low of $6.11 and a 52-week high of $10.50. The stock has a fifty day simple moving average of $7.88 and a two-hundred day simple moving average of $8.54. The company has a market capitalization of $135.66 million, a PE ratio of 17.27 and a beta of 0.99.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Everspin Technologies had a net margin of 12.77% and a return on equity of 16.14%. The firm had revenue of $14.43 million during the quarter. During the same period in the prior year, the company earned $0.04 earnings per share.

Insider Buying and Selling

In other news, VP David Schrenk sold 5,000 shares of Everspin Technologies stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $8.03, for a total value of $40,150.00. Following the completion of the sale, the vice president now directly owns 115,767 shares of the company’s stock, valued at $929,609.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Anuj Aggarwal sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the sale, the chief financial officer now directly owns 302,824 shares of the company’s stock, valued at approximately $2,486,185.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Schrenk sold 5,000 shares of the stock in a transaction that occurred 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 owns 115,767 shares in the company, valued at $929,609.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,968 shares of company stock valued at $590,033. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Everspin Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in Everspin Technologies by 16.8% in the third quarter. Acadian Asset Management LLC now owns 507,115 shares of the business services provider’s stock valued at $4,982,000 after acquiring an additional 73,109 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Everspin Technologies by 12.4% in the 3rd quarter. Quadrature Capital Ltd now owns 31,255 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 3,453 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Everspin Technologies in the 3rd quarter valued at $241,000. Barclays PLC purchased a new stake in shares of Everspin Technologies during the 3rd quarter worth $99,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in shares of Everspin Technologies during the fourth quarter worth $93,000. 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.