EVERSPIN TECH (NASDAQ:MRAM) Given Hold (C-) Rating at Weiss Ratings

EVERSPIN TECH (NASDAQ:MRAM - Get Free Report)'s stock had its "hold (c-)" rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded shares of EVERSPIN TECH from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, EVERSPIN TECH has an average rating of "Moderate Buy" and an average price target of $8.00.

EVERSPIN TECH Trading Up 4.0%

MRAM opened at $11.48 on Wednesday. The company's 50 day moving average is $7.32 and its 200-day moving average is $6.36. EVERSPIN TECH has a 1-year low of $4.34 and a 1-year high of $12.27. The company has a market cap of $259.68 million, a P/E ratio of 164.00 and a beta of 0.36.

Insider Transactions at EVERSPIN TECH

In other EVERSPIN TECH news, CEO Sanjeev Aggarwal sold 17,147 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $10.15, for a total transaction of $174,042.05. Following the completion of the transaction, the chief executive officer owned 574,757 shares in the company, valued at approximately $5,833,783.55. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 20,272 shares of company stock worth $192,963. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Lynrock Lake LP lifted its position in shares of EVERSPIN TECH by 132.0% during the 1st quarter. Lynrock Lake LP now owns 1,586,370 shares of the business services provider's stock valued at $8,090,000 after acquiring an additional 902,489 shares during the period. Herald Investment Management Ltd lifted its position in shares of EVERSPIN TECH by 12.5% during the 2nd quarter. Herald Investment Management Ltd now owns 675,000 shares of the business services provider's stock valued at $4,239,000 after acquiring an additional 75,000 shares during the period. Marshall Wace LLP acquired a new position in shares of EVERSPIN TECH during the 2nd quarter valued at $716,000. Qube Research & Technologies Ltd increased its stake in EVERSPIN TECH by 41.4% during the 2nd quarter. Qube Research & Technologies Ltd now owns 103,300 shares of the business services provider's stock valued at $650,000 after purchasing an additional 30,244 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in EVERSPIN TECH by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 101,384 shares of the business services provider's stock valued at $517,000 after purchasing an additional 6,294 shares in the last quarter. Institutional investors and hedge funds own 44.68% of the company's stock.

About EVERSPIN TECH

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.

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