Shares of Everspin Technologies Inc (NASDAQ:MRAM) were up 6.1% during trading on Friday . The company traded as high as $6.36 and last traded at $6.22, approximately 11,663 shares changed hands during mid-day trading. A decline of 85% from the average daily volume of 76,648 shares. The stock had previously closed at $5.86.
A number of analysts recently commented on MRAM shares. Zacks Investment Research cut shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of SCYNEXIS in a research note on Sunday, May 12th.
The stock has a 50 day moving average of $6.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.84 and a current ratio of 2.55.
Everspin Technologies (NASDAQ:MRAM) last released its earnings results on Wednesday, May 8th. The business services provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $10.03 million during the quarter, compared to analysts’ expectations of $9.70 million. Everspin Technologies had a negative net margin of 44.80% and a negative return on equity of 76.21%. On average, research analysts expect that Everspin Technologies Inc will post -1.06 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in MRAM. D. E. Shaw & Co. Inc. acquired a new stake in Everspin Technologies during the 4th quarter valued at approximately $80,000. Bank of New York Mellon Corp acquired a new stake in Everspin Technologies during the 4th quarter valued at approximately $80,000. BlackRock Inc. lifted its stake in Everspin Technologies by 6.5% during the 4th quarter. BlackRock Inc. now owns 195,709 shares of the business services provider’s stock valued at $1,097,000 after acquiring an additional 11,959 shares during the period. Finally, Raging Capital Management LLC lifted its stake in Everspin Technologies by 91.7% during the 4th quarter. Raging Capital Management LLC now owns 1,485,433 shares of the business services provider’s stock valued at $8,333,000 after acquiring an additional 710,433 shares during the period. Institutional investors and hedge funds own 40.06% of the company’s stock.
Everspin Technologies Company Profile (NASDAQ:MRAM)
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.
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