Everspin Technologies (NASDAQ:MRAM) Downgraded by StockNews.com

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

Several other analysts have also issued reports on the company. Needham & Company LLC cut their price objective on Everspin Technologies from $12.00 to $8.00 and set a “buy” rating for the company in a report on Thursday. Craig Hallum cut their price target on Everspin Technologies from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday.

Everspin Technologies Stock Performance

NASDAQ:MRAM traded down $0.12 during trading hours on Friday, hitting $6.39. 214,877 shares of the company’s stock traded hands, compared to its average volume of 99,701. The stock’s fifty day moving average price is $7.88 and its two-hundred day moving average price is $8.56. The firm has a market cap of $135.63 million, a P/E ratio of 17.27 and a beta of 0.99. Everspin Technologies has a twelve month low of $6.11 and a twelve month high of $10.50.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings results 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 return on equity of 16.14% and a net margin of 12.77%. The company had revenue of $14.43 million during the quarter. During the same period last year, the business earned $0.04 earnings per share.

Insider Activity at Everspin Technologies

In other Everspin Technologies news, CFO Anuj Aggarwal sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the chief financial officer now directly owns 302,824 shares in the company, valued at $2,486,185.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Everspin Technologies news, CFO Anuj Aggarwal sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the chief financial officer now owns 302,824 shares in the company, valued at $2,486,185.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Schrenk sold 5,000 shares of Everspin Technologies stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $8.03, for a total transaction of $40,150.00. Following the completion of the transaction, the vice president now directly owns 115,767 shares in the company, valued at approximately $929,609.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,968 shares of company stock valued at $590,033. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Everspin Technologies

A number of hedge funds have recently bought and sold shares of MRAM. GSA Capital Partners LLP lifted its position in shares of Everspin Technologies by 4.1% during the 1st quarter. GSA Capital Partners LLP now owns 70,840 shares of the business services provider’s stock worth $561,000 after purchasing an additional 2,764 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Everspin Technologies by 21.1% during the fourth quarter. Quadrature Capital Ltd now owns 37,864 shares of the business services provider’s stock worth $342,000 after buying an additional 6,609 shares in the last quarter. Trexquant Investment LP bought a new stake in Everspin Technologies in the fourth quarter valued at about $171,000. Hillsdale Investment Management Inc. raised its position in Everspin Technologies by 28.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 222,402 shares of the business services provider’s stock worth $2,011,000 after purchasing an additional 49,899 shares in the last quarter. Finally, Jump Financial LLC raised its position in Everspin Technologies by 55.9% in the fourth quarter. Jump Financial LLC now owns 28,899 shares of the business services provider’s stock worth $261,000 after purchasing an additional 10,357 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors.

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.