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

Everspin Technologies (NASDAQ:MRAM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other analysts have also weighed in on MRAM. Needham & Company LLC dropped their price target on Everspin Technologies from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Craig Hallum dropped their target price on shares of Everspin Technologies from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd.

Everspin Technologies Stock Performance

MRAM remained flat at $6.35 during trading on Thursday. The company had a trading volume of 153,414 shares, compared to its average volume of 128,378. The firm’s 50 day moving average is $6.13 and its 200-day moving average is $7.37. Everspin Technologies has a 1-year low of $5.54 and a 1-year high of $10.50. The stock has a market capitalization of $136.65 million, a PE ratio of 17.16 and a beta of 0.91.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Everspin Technologies had a return on equity of 15.70% and a net margin of 12.77%. The business had revenue of $14.43 million for the quarter. During the same quarter in the previous year, the business earned $0.04 earnings per share.

Insider Activity

In other Everspin Technologies news, CFO Anuj Aggarwal sold 12,984 shares of Everspin Technologies stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total value of $78,033.84. Following the completion of the sale, the chief financial officer now owns 276,940 shares of the company’s stock, valued at approximately $1,664,409.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Everspin Technologies news, CFO Anuj Aggarwal sold 12,984 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total value of $78,033.84. Following the transaction, the chief financial officer now owns 276,940 shares of the company’s stock, valued at $1,664,409.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjeev Aggarwal sold 17,631 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total value of $105,962.31. Following the completion of the transaction, the chief executive officer now directly owns 459,048 shares in the company, valued at $2,758,878.48. The disclosure for this sale can be found here. Insiders have sold a total of 34,424 shares of company stock valued at $207,009 in the last 90 days. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRAM. Principal Securities Inc. purchased a new position in shares of Everspin Technologies in the fourth quarter valued at about $32,000. AJOVista LLC purchased a new position in Everspin Technologies in the 4th quarter worth approximately $43,000. Trexquant Investment LP bought a new position in Everspin Technologies in the 4th quarter worth approximately $171,000. Victory Capital Management Inc. grew its holdings in Everspin Technologies by 70.4% during the 4th quarter. Victory Capital Management Inc. now owns 25,535 shares of the business services provider’s stock valued at $231,000 after buying an additional 10,547 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Everspin Technologies by 55.9% during the fourth quarter. Jump Financial LLC now owns 28,899 shares of the business services provider’s stock valued at $261,000 after buying an additional 10,357 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Technologies Company Profile

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.