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

StockNews.com cut shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a hold rating in a research note issued to investors on Thursday.

MRAM has been the subject of several other reports. Craig Hallum cut their price target on Everspin Technologies from $11.00 to $10.00 and set a buy rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC cut 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.

Everspin Technologies Stock Down 1.6 %

Shares of NASDAQ MRAM opened at $6.25 on Thursday. The business’s 50 day moving average price is $6.13 and its two-hundred day moving average price is $7.33. The company has a market cap of $134.51 million, a PE ratio of 16.89 and a beta of 0.91. Everspin Technologies has a twelve month low of $5.54 and a twelve month high of $10.50.

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

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,631 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Anuj Aggarwal sold 12,984 shares of the stock in a transaction on Tuesday, July 2nd. The stock was 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 directly owns 276,940 shares in the company, valued at $1,664,409.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjeev Aggarwal sold 17,631 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total value of $105,962.31. Following the completion of the sale, the chief executive officer now owns 459,048 shares of the company’s stock, valued at $2,758,878.48. The disclosure for this sale can be found here. Insiders sold a total of 34,424 shares of company stock worth $207,009 over the last three months. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in Everspin Technologies during the fourth quarter valued at $32,000. AJOVista LLC bought a new position in shares of Everspin Technologies during the 4th quarter worth about $43,000. Trexquant Investment LP bought a new position in shares of Everspin Technologies during the 4th quarter worth about $171,000. Victory Capital Management Inc. boosted its position in shares of 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 worth $231,000 after purchasing an additional 10,547 shares in the last quarter. Finally, Jump Financial LLC lifted its position in Everspin Technologies by 55.9% in the 4th quarter. Jump Financial LLC now owns 28,899 shares of the business services provider’s stock valued at $261,000 after acquiring an additional 10,357 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors and hedge funds.

About Everspin Technologies

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.