Zacks Investment Research lowered shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a hold rating in a research report released on Wednesday.
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. “
MRAM stock traded up $0.04 on Wednesday, reaching $6.16. 21,777 shares of the company traded hands, compared to its average volume of 24,100. Everspin Technologies has a one year low of $5.30 and a one year high of $11.48. The company has a quick ratio of 2.36, a current ratio of 2.95 and a debt-to-equity ratio of 0.29. The firm has a market cap of $106.32 million, a PE ratio of -3.64 and a beta of 2.24.
Everspin Technologies (NASDAQ:MRAM) last posted its earnings results on Thursday, November 8th. The business services provider reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.01. The business had revenue of $11.52 million during the quarter, compared to analyst estimates of $10.80 million. Everspin Technologies had a negative return on equity of 67.47% and a negative net margin of 37.90%. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.43) EPS. On average, research analysts expect that Everspin Technologies will post -1.09 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Handelsinvest Investeringsforvaltning bought a new stake in shares of Everspin Technologies in the 3rd quarter worth $1,075,000. Salem Investment Counselors Inc. bought a new stake in shares of Everspin Technologies in the 3rd quarter worth $147,000. Bamco Inc. NY increased its holdings in shares of Everspin Technologies by 39.6% in the 3rd quarter. Bamco Inc. NY now owns 750,000 shares of the business services provider’s stock worth $5,760,000 after purchasing an additional 212,900 shares in the last quarter. Raging Capital Management LLC increased its holdings in shares of Everspin Technologies by 37.7% in the 3rd quarter. Raging Capital Management LLC now owns 775,000 shares of the business services provider’s stock worth $5,952,000 after purchasing an additional 211,984 shares in the last quarter. Finally, AWM Investment Company Inc. increased its holdings in shares of Everspin Technologies by 2.4% in the 3rd quarter. AWM Investment Company Inc. now owns 1,624,042 shares of the business services provider’s stock worth $12,473,000 after purchasing an additional 38,061 shares in the last quarter. 39.32% of the stock is owned by institutional investors and hedge funds.
About Everspin Technologies
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.
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