Everspin Technologies (NASDAQ:MRAM) Releases Earnings Results, Misses Estimates By $0.01 EPS

Everspin Technologies (NASDAQ:MRAM) announced its quarterly earnings results on Wednesday. The business services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01), Zacks reports. Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%.

Everspin Technologies Price Performance

MRAM traded up $0.14 during trading on Wednesday, reaching $5.69. The company had a trading volume of 221,549 shares, compared to its average volume of 92,863. Everspin Technologies has a 12 month low of $4.89 and a 12 month high of $9.39. The business’s fifty day moving average price is $6.18 and its 200 day moving average price is $6.01. The company has a market cap of $125.02 million, a P/E ratio of 94.83 and a beta of 0.88.

Analyst Ratings Changes

MRAM has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research note on Thursday, October 31st. StockNews.com upgraded Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, December 28th.

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.