Everspin Technologies (NASDAQ:MRAM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, January 3rd.
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. “
Several other research analysts also recently commented on MRAM. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Everspin Technologies in a report on Thursday, October 12th. Needham & Company LLC cut their price objective on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 14th. cut their price objective on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a report on Wednesday, November 15th. Finally, Canaccord Genuity cut their price target on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $16.75.
Shares of Everspin Technologies (NASDAQ MRAM) traded down $0.01 during mid-day trading on Wednesday, hitting $8.39. 104,600 shares of the stock traded hands, compared to its average volume of 172,350. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.27 and a current ratio of 3.04. Everspin Technologies has a 12 month low of $6.69 and a 12 month high of $25.39. The stock has a market cap of $107.11 and a price-to-earnings ratio of -4.61.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings results on Monday, November 13th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. Everspin Technologies had a negative net margin of 66.90% and a negative return on equity of 108.26%. The company had revenue of $8.30 million during the quarter, compared to analyst estimates of $9.90 million. The company’s revenue was up 31.7% on a year-over-year basis. equities research analysts anticipate that Everspin Technologies will post -1.72 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Royce & Associates LP bought a new stake in shares of Everspin Technologies during the 2nd quarter worth $2,833,000. Vanguard Group Inc. lifted its holdings in shares of Everspin Technologies by 248.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock worth $2,774,000 after acquiring an additional 98,963 shares during the last quarter. EAM Investors LLC lifted its holdings in shares of Everspin Technologies by 223.3% during the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock worth $2,157,000 after acquiring an additional 87,167 shares during the last quarter. Bamco Inc. NY lifted its holdings in shares of Everspin Technologies by 20.3% during the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock worth $4,167,000 after acquiring an additional 41,100 shares during the last quarter. Finally, Granite Investment Partners LLC bought a new stake in shares of Everspin Technologies during the 3rd quarter worth $560,000. 24.32% of the stock is owned by hedge funds and other institutional investors.
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Everspin Technologies Company Profile
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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