Everspin Technologies (NASDAQ:MRAM) Updates Q4 2021 Earnings Guidance

Everspin Technologies (NASDAQ:MRAM) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.020-$0.080 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.010. The company issued revenue guidance of $16.25 million-$17.25 million, compared to the consensus revenue estimate of $12.75 million.

Shares of MRAM stock traded down $0.20 during trading hours on Thursday, reaching $12.20. The company had a trading volume of 1,506,694 shares, compared to its average volume of 696,513. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.32 and a current ratio of 2.93. Everspin Technologies has a twelve month low of $4.30 and a twelve month high of $13.98. The company has a market capitalization of $239.22 million, a P/E ratio of -243.95 and a beta of 1.48. The stock’s fifty day simple moving average is $7.44 and its 200 day simple moving average is $6.51.

Everspin Technologies (NASDAQ:MRAM) last posted its earnings results on Thursday, November 11th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. Everspin Technologies had a negative return on equity of 4.80% and a negative net margin of 1.95%. During the same period last year, the company earned ($0.21) earnings per share.

Separately, Needham & Company LLC raised their price objective on Everspin Technologies from $10.00 to $12.00 and gave the company a strong-buy rating in a research note on Friday, November 12th.

In other news, VP Sanjeev Aggarwal sold 8,846 shares of Everspin Technologies stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $13.07, for a total value of $115,617.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Socolof sold 250,000 shares of Everspin Technologies stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $10.41, for a total value of $2,602,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 620,388 shares of company stock valued at $7,190,706. 16.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new stake in shares of Everspin Technologies in the 2nd quarter worth approximately $80,000. Morgan Stanley lifted its holdings in shares of Everspin Technologies by 98.6% in the 1st quarter. Morgan Stanley now owns 40,811 shares of the business services provider’s stock worth $245,000 after purchasing an additional 20,262 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Everspin Technologies in the 3rd quarter worth approximately $255,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Everspin Technologies by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 110,854 shares of the business services provider’s stock worth $718,000 after purchasing an additional 6,398 shares during the last quarter. 25.25% of the stock is currently owned by institutional investors and hedge funds.

About Everspin Technologies

Everspin Technologies, Inc engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products include Toggle MRAM, Spin-transfer Torque MRAM, nvNITRO Solutions, and Embedded MRAM. The company was founded by Saied Tehrani in June 2008 and is headquartered in Chandler, AZ.

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