Zacks Investment Research lowered shares of Everspin Technologies Inc (NASDAQ:MRAM) from a hold rating to a sell rating in a research report report published on Friday, April 14th.
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. “
Separately, Canaccord Genuity reiterated a buy rating and set a $12.00 target price on shares of Everspin Technologies in a report on Monday, March 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $11.20.
Everspin Technologies (NASDAQ:MRAM) traded down 1.02% during trading on Friday, hitting $9.75. The stock had a trading volume of 13,595 shares. The company’s 50 day moving average is $9.13 and its 200-day moving average is $8.21. Everspin Technologies has a 12 month low of $6.15 and a 12 month high of $10.61. The company’s market cap is $121.88 million.
Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings results on Friday, May 12th. The business services provider reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.02. The firm had revenue of $7.88 million during the quarter, compared to analyst estimates of $7.40 million. On average, equities research analysts predict that Everspin Technologies will post ($1.35) earnings per share for the current year.
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Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC acquired a new stake in shares of Everspin Technologies during the first quarter valued at $126,000. Vanguard Group Inc. acquired a new stake in shares of Everspin Technologies during the first quarter valued at $334,000. Herald Investment Management Ltd acquired a new stake in shares of Everspin Technologies during the first quarter valued at $1,223,000. Dialectic Capital Management LP acquired a new stake in shares of Everspin Technologies during the first quarter valued at $182,000. Finally, Mutual of America Capital Management LLC increased its stake in shares of Everspin Technologies by 10.4% in the first quarter. Mutual of America Capital Management LLC now owns 302,449 shares of the business services provider’s stock valued at $2,535,000 after buying an additional 28,472 shares in the last quarter. Institutional investors own 10.48% of the company’s stock.
About Everspin Technologies
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
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