Everspin Technologies (NASDAQ:MRAM) Stock Rating Upgraded by StockNews.com

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

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of Everspin Technologies in a research note on Thursday, October 31st.

Everspin Technologies Stock Down 1.4 %

NASDAQ MRAM opened at $6.48 on Friday. Everspin Technologies has a 52 week low of $4.89 and a 52 week high of $9.39. The business’s fifty day simple moving average is $6.22 and its 200-day simple moving average is $6.00. The firm has a market cap of $142.38 million, a PE ratio of 108.00 and a beta of 0.90.

Insider Transactions at Everspin Technologies

In other 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 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 23,991 shares of company stock worth $135,839. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Everspin Technologies

Hedge funds have recently added to or reduced their stakes in the business. Eastern Bank purchased a new stake in shares of Everspin Technologies during the third quarter worth $50,000. Mackenzie Financial Corp purchased a new stake in Everspin Technologies during the 2nd quarter worth about $70,000. Jane Street Group LLC acquired a new stake in Everspin Technologies in the 3rd quarter valued at about $82,000. 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 buying an additional 14,220 shares during the period. Finally, Rhumbline Advisers acquired a new position in shares of Everspin Technologies during the second quarter worth about $129,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.

Everspin Technologies Company Profile

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.