Everspin Technologies (NASDAQ:MRAM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a buy rating in a research report released on Wednesday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research report on Thursday, October 31st.

Everspin Technologies Price Performance

NASDAQ MRAM opened at $5.87 on Wednesday. The company has a market cap of $128.96 million, a price-to-earnings ratio of 97.83 and a beta of 0.90. Everspin Technologies has a 1 year low of $4.89 and a 1 year high of $9.44. The stock’s fifty day moving average price is $5.94 and its 200 day moving average price is $5.99.

Insider Activity at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total value of $97,077.42. Following the completion of the transaction, the chief executive officer now owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 24,037 shares of company stock valued at $132,561 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Everspin Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its stake in shares of Everspin Technologies by 222.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 14,220 shares in the last quarter. Eastern Bank purchased a new position in shares of Everspin Technologies during the 3rd quarter valued at $50,000. Mackenzie Financial Corp bought a new position in shares of Everspin Technologies in the second quarter worth $70,000. Total Clarity Wealth Management Inc. boosted its stake in Everspin Technologies by 11.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock valued at $517,000 after buying an additional 8,767 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Everspin Technologies by 15.9% in the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after acquiring an additional 55,772 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.