Shares of Everspin Technologies Inc (NASDAQ:MRAM) have been given a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $15.25 for the company and are predicting that the company will post ($0.36) earnings per share for the current quarter, according to Zacks. Zacks has also given Everspin Technologies an industry rank of 187 out of 265 based on the ratings given to related companies.
A number of equities analysts have recently commented on the stock. Canaccord Genuity cut their price objective on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Needham & Company LLC dropped their target price on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, dropped their target price on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Wednesday, November 15th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. B. Riley Financial Inc. lifted its holdings in shares of Everspin Technologies by 21.1% in the 4th quarter. B. Riley Financial Inc. now owns 49,300 shares of the business services provider’s stock worth $370,000 after acquiring an additional 8,580 shares during the last quarter. Wells Fargo & Company MN bought a new stake in shares of Everspin Technologies in the 2nd quarter worth approximately $322,000. Stifel Financial Corp bought a new stake in shares of Everspin Technologies in the 2nd quarter worth approximately $525,000. Granite Investment Partners LLC bought a new stake in shares of Everspin Technologies in the 3rd quarter worth approximately $560,000. Finally, Royce & Associates LP lifted its holdings in shares of Everspin Technologies by 24.0% in the 4th quarter. Royce & Associates LP now owns 172,300 shares of the business services provider’s stock worth $1,292,000 after acquiring an additional 33,400 shares during the last quarter. Hedge funds and other institutional investors own 13.87% of the company’s stock.
Everspin Technologies (NASDAQ MRAM) traded up $0.06 during mid-day trading on Friday, hitting $7.88. 67,000 shares of the stock were exchanged, compared to its average volume of 243,914. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.04 and a quick ratio of 2.27. Everspin Technologies has a one year low of $6.40 and a one year high of $25.39. The company has a market capitalization of $100.60 and a price-to-earnings ratio of -4.33.
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About Everspin Technologies
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
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