Everspin Technologies (NASDAQ:MRAM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, September 12th.
According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “
Other analysts have also recently issued reports about the stock. Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of Everspin Technologies in a research note on Thursday, August 9th. TheStreet upgraded shares of Everspin Technologies from a “d” rating to a “c-” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.75.
Shares of MRAM stock traded down $0.36 during trading on Wednesday, reaching $7.10. 149,571 shares of the company’s stock traded hands, compared to its average volume of 130,835. The stock has a market capitalization of $129.82 million, a P/E ratio of -4.20 and a beta of 3.01. The company has a current ratio of 3.20, a quick ratio of 2.57 and a debt-to-equity ratio of 0.17. Everspin Technologies has a 1 year low of $6.40 and a 1 year high of $15.20.
Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, August 8th. The business services provider reported ($0.40) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.02. The company had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $11.10 million. Everspin Technologies had a negative net margin of 39.62% and a negative return on equity of 75.89%. The firm’s revenue was up 21.3% compared to the same quarter last year. On average, equities analysts predict that Everspin Technologies will post -1.13 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of MRAM. Handelsbanken Fonder AB purchased a new stake in Everspin Technologies in the 1st quarter worth approximately $3,662,000. Employees Retirement System of Texas lifted its stake in Everspin Technologies by 50.0% in the 1st quarter. Employees Retirement System of Texas now owns 294,000 shares of the business services provider’s stock worth $2,220,000 after purchasing an additional 98,000 shares in the last quarter. Millennium Management LLC purchased a new stake in Everspin Technologies in the 1st quarter worth approximately $647,000. King Luther Capital Management Corp purchased a new stake in Everspin Technologies in the 1st quarter worth approximately $321,000. Finally, Stifel Financial Corp lifted its stake in Everspin Technologies by 115.6% in the 1st quarter. Stifel Financial Corp now owns 64,968 shares of the business services provider’s stock worth $504,000 after purchasing an additional 34,834 shares in the last quarter. Institutional investors and hedge funds own 33.72% 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 and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.
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