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 provide coverage for the company, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus target price of $15.25 for the company and are predicting that the company will post ($0.37) EPS for the current quarter, according to Zacks. Zacks has also assigned Everspin Technologies an industry rank of 188 out of 265 based on the ratings given to related companies.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Everspin Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. cut their price target on Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Wednesday, November 15th. Needham & Company LLC decreased their target price on 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. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 target price on shares of Everspin Technologies in a research report on Thursday, October 12th. Finally, Canaccord Genuity cut their target price on Everspin Technologies from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, November 17th.
Several hedge funds have recently modified their holdings of the company. Bamco Inc. NY raised its stake in shares of Everspin Technologies by 20.3% during the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock worth $4,167,000 after buying an additional 41,100 shares in the last quarter. Royce & Associates LP purchased a new position in Everspin Technologies in the 2nd quarter valued at approximately $2,833,000. Vanguard Group Inc. increased its stake in Everspin Technologies by 248.2% in the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock valued at $2,774,000 after purchasing an additional 98,963 shares in the last quarter. EAM Investors LLC increased its stake in Everspin Technologies by 223.3% in the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock valued at $2,157,000 after purchasing an additional 87,167 shares in the last quarter. Finally, B. Riley Financial Inc. increased its stake in Everspin Technologies by 135.2% in the 3rd quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock valued at $696,000 after purchasing an additional 23,408 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.
Shares of Everspin Technologies (NASDAQ:MRAM) traded down $0.01 during trading hours on Monday, hitting $8.39. The company had a trading volume of 104,603 shares, compared to its average volume of 172,350. Everspin Technologies has a 52 week low of $6.69 and a 52 week high of $25.39. The company has a current ratio of 3.04, a quick ratio of 2.27 and a debt-to-equity ratio of 0.74. The company has a market cap of $107.11 and a P/E ratio of -4.61.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Monday, November 13th. The business services provider reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. Everspin Technologies had a negative return on equity of 108.26% and a negative net margin of 66.90%. The company had revenue of $8.30 million for the quarter, compared to the consensus estimate of $9.90 million. The company’s revenue was up 31.7% on a year-over-year basis. research analysts predict that Everspin Technologies will post -1.72 EPS for the current year.
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Everspin Technologies Company Profile
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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