Everspin Technologies (NASDAQ:MRAM) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Everspin Technologies (NASDAQ:MRAM – Get Rating) in a research note published on Thursday morning. The firm issued a buy rating on the business services provider’s stock.

Separately, Needham & Company LLC increased their price target on shares of Everspin Technologies from $9.00 to $10.00 and gave the stock a strong-buy rating in a research note on Thursday, March 2nd.

Everspin Technologies Stock Performance

Everspin Technologies stock opened at $6.33 on Thursday. The firm’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $6.28. Everspin Technologies has a twelve month low of $4.71 and a twelve month high of $9.44. The firm has a market cap of $129.39 million, a PE ratio of 22.61 and a beta of 1.32.

Everspin Technologies (NASDAQ:MRAM – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The business services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Everspin Technologies had a return on equity of 17.67% and a net margin of 10.22%. The business had revenue of $15.69 million for the quarter.

Insider Buying and Selling

In related news, Director Darin G. Billerbeck sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $6.67, for a total transaction of $66,700.00. Following the completion of the sale, the director now directly owns 86,197 shares of the company’s stock, valued at approximately $574,933.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 12,061 shares of company stock valued at $79,505. Company insiders own 4.13% of the company’s stock.

Institutional Trading of Everspin Technologies

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Everspin Technologies by 32,978.6% in the 4th quarter. JPMorgan Chase & Co. now owns 4,631 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 4,617 shares during the period. Principal Financial Group Inc. bought a new stake in Everspin Technologies in the 2nd quarter valued at $55,000. Commonwealth Equity Services LLC bought a new stake in Everspin Technologies in the 3rd quarter valued at $58,000. Cowen Prime Advisors LLC boosted its holdings in Everspin Technologies by 235.0% in the 4th quarter. Cowen Prime Advisors LLC now owns 10,887 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 7,637 shares during the period. Finally, Virtu Financial LLC bought a new stake in Everspin Technologies in the 3rd quarter valued at $64,000. 41.91% of the stock is owned by institutional investors.

Everspin Technologies Company Profile

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