Everspin Technologies (NASDAQ:MRAM) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Shares of Everspin Technologies, Inc. (NASDAQ:MRAM) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.26 and traded as low as $5.67. Everspin Technologies shares last traded at $5.73, with a volume of 29,283 shares trading hands.

Analyst Ratings Changes

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

Everspin Technologies Stock Performance

The company has a 50-day moving average price of $6.26 and a 200-day moving average price of $5.99. The firm has a market capitalization of $125.89 million, a P/E ratio of 95.50 and a beta of 0.88.

Institutional Investors Weigh In On Everspin Technologies

Several large investors have recently made changes to their positions in MRAM. Eastern Bank bought a new stake in shares of Everspin Technologies in the third quarter valued at about $50,000. BNP Paribas Financial Markets grew its position in shares of Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after purchasing an additional 14,220 shares in the last quarter. State Street Corp increased its holdings in shares of Everspin Technologies by 1.5% during the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after purchasing an additional 3,298 shares during the period. Jane Street Group LLC acquired a new stake in shares of Everspin Technologies in the third quarter valued at approximately $82,000. Finally, Barclays PLC grew its position in Everspin Technologies by 157.9% during the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after buying an additional 32,240 shares in the last quarter. Institutional investors and hedge funds own 44.68% of the company’s stock.

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.