StockNews.com Downgrades Everspin Technologies (NASDAQ:MRAM) to Hold

Everspin Technologies (NASDAQ:MRAM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research report on Thursday, October 31st.

Everspin Technologies Stock Performance

Shares of MRAM opened at $5.64 on Friday. The company’s 50 day moving average price is $6.14 and its 200 day moving average price is $6.01. Everspin Technologies has a 52 week low of $4.89 and a 52 week high of $9.00. The company has a market capitalization of $123.92 million, a PE ratio of 94.00 and a beta of 0.88.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a net margin of 2.85% and a return on equity of 2.74%. The company had revenue of $13.20 million for the quarter, compared to analysts’ expectations of $12.50 million.

Institutional Trading of Everspin Technologies

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in Everspin Technologies by 157.9% in the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after acquiring an additional 32,240 shares in the last quarter. Jane Street Group LLC bought a new stake in Everspin Technologies in the third quarter worth approximately $82,000. Geode Capital Management LLC grew its position in Everspin Technologies by 0.5% in the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock worth $2,437,000 after acquiring an additional 1,941 shares in the last quarter. JPMorgan Chase & Co. grew its position in Everspin Technologies by 49.3% in the third quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider’s stock worth $346,000 after acquiring an additional 19,367 shares in the last quarter. Finally, State Street Corp grew its position in Everspin Technologies by 1.5% in the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after acquiring an additional 3,298 shares in the last quarter. 44.68% of the stock is owned by institutional investors.

About Everspin Technologies

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.