Everspin Technologies (MRAM) Trading Up 19.1%

Everspin Technologies Inc (NASDAQ:MRAM)’s share price was up 19.1% during trading on Wednesday . The stock traded as high as $8.92 and last traded at $8.85. Approximately 815,155 shares were traded during trading, an increase of 1,328% from the average daily volume of 57,069 shares. The stock had previously closed at $7.43.

Several equities analysts have commented on MRAM shares. ValuEngine raised Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Everspin Technologies in a research report on Wednesday. Finally, Zacks Investment Research raised Everspin Technologies from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, November 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.83.

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.95 and a quick ratio of 2.36. The stock has a market cap of $106.84 million, a P/E ratio of -5.24 and a beta of 2.35.

Institutional investors and hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB raised its position in shares of Everspin Technologies by 28.9% in the 4th quarter. Handelsbanken Fonder AB now owns 625,000 shares of the business services provider’s stock worth $3,506,000 after purchasing an additional 140,000 shares during the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in shares of Everspin Technologies in the 3rd quarter worth about $1,075,000. Salem Investment Counselors Inc. purchased a new position in shares of Everspin Technologies in the 3rd quarter worth about $147,000. Bamco Inc. NY raised its position in shares of Everspin Technologies by 39.6% in the 3rd quarter. Bamco Inc. NY now owns 750,000 shares of the business services provider’s stock worth $5,760,000 after purchasing an additional 212,900 shares during the last quarter. Finally, Raging Capital Management LLC raised its position in shares of Everspin Technologies by 37.7% in the 3rd quarter. Raging Capital Management LLC now owns 775,000 shares of the business services provider’s stock worth $5,952,000 after purchasing an additional 211,984 shares during the last quarter. 39.73% of the stock is owned by hedge funds and other institutional investors.

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About Everspin Technologies (NASDAQ:MRAM)

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.

Further Reading: Return on Investment (ROI)

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