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

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

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

Everspin Technologies Price Performance

Everspin Technologies stock opened at $6.04 on Thursday. The stock has a market cap of $132.70 million, a price-to-earnings ratio of 100.67 and a beta of 0.90. The firm has a 50 day simple moving average of $5.99 and a 200-day simple moving average of $5.95. Everspin Technologies has a 1-year low of $4.89 and a 1-year high of $9.43.

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly owns 440,215 shares of the company’s stock, valued at $2,438,791.10. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 24,037 shares of company stock valued at $132,561 over the last quarter. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in Everspin Technologies by 157.9% during the 3rd 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. Geode Capital Management LLC increased its position in shares of Everspin Technologies by 0.5% during 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 during the period. Jane Street Group LLC acquired a new stake in shares of Everspin Technologies in the third quarter valued at $82,000. State Street Corp boosted its holdings 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 valued at $1,294,000 after purchasing an additional 3,298 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in 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. Hedge funds and other institutional investors own 44.68% of the company’s stock.

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.