Everspin Technologies (NASDAQ:MRAM) Upgraded by StockNews.com to Buy Rating

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

Separately, Needham & Company LLC reissued 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 Down 0.2 %

MRAM stock opened at $6.36 on Friday. Everspin Technologies has a twelve month low of $4.89 and a twelve month high of $9.43. The company has a market cap of $139.74 million, a P/E ratio of 106.00 and a beta of 0.90. The business has a fifty day moving average of $6.20 and a 200-day moving average of $5.98.

Insider Transactions at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total value of $97,077.42. Following the sale, the chief executive officer now directly owns 440,215 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders have sold a total of 23,991 shares of company stock valued at $135,839 over the last 90 days. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everspin Technologies

A number of large investors have recently bought and sold shares of the company. Eastern Bank bought a new stake in Everspin Technologies during the 3rd quarter worth about $50,000. Mackenzie Financial Corp acquired a new stake in shares of Everspin Technologies in the second quarter valued at about $70,000. Jane Street Group LLC bought a new stake in Everspin Technologies during the third quarter worth about $82,000. BNP Paribas Financial Markets boosted its position in Everspin Technologies by 222.9% during the third quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 14,220 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Everspin Technologies in the second quarter valued at approximately $129,000. 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.