ValuEngine upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a strong-buy rating in a report published on Thursday, ValuEngine reports.
Several other equities analysts have also recently commented on the stock. Needham & Company LLC reissued a buy rating and issued a $14.00 price target on shares of Everspin Technologies in a research report on Sunday, May 12th. Zacks Investment Research upgraded shares of Everspin Technologies from a sell rating to a hold rating in a report on Thursday, July 18th.
MRAM stock traded up $0.02 during midday trading on Thursday, hitting $6.48. The company’s stock had a trading volume of 37,589 shares, compared to its average volume of 54,647. The company has a quick ratio of 1.84, a current ratio of 2.55 and a debt-to-equity ratio of 0.34. Everspin Technologies has a 52-week low of $5.30 and a 52-week high of $11.20. The company has a market cap of $115.98 million, a price-to-earnings ratio of -6.00 and a beta of 2.23. The firm has a 50-day moving average of $6.61.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.01. Everspin Technologies had a negative net margin of 44.80% and a negative return on equity of 76.21%. The company had revenue of $10.03 million during the quarter, compared to analysts’ expectations of $9.70 million.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Everspin Technologies by 6.5% in the 4th quarter. BlackRock Inc. now owns 195,709 shares of the business services provider’s stock worth $1,097,000 after purchasing an additional 11,959 shares during the period. Bank of New York Mellon Corp bought a new position in Everspin Technologies in the 4th quarter worth $80,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Everspin Technologies in the 4th quarter worth $80,000. Institutional investors and hedge funds own 40.05% of the company’s stock.
Everspin Technologies Company Profile
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.
See Also: How to Invest in Marijuana Stocks
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.