Everspin Tech (NASDAQ:MRAM) Shares Gap Up - Should You Buy?

Key Points

• Everspin Tech shares surged sharply, opening at $36.10 after closing at $26.99 and last trading around $35.69, on heavy volume of more than 6.2 million shares.
• Analyst opinions are mixed: Weiss Ratings reiterated a sell, Wall Street Zen downgraded the stock to hold, while Needham raised its price target to $18.50 and kept a buy rating. The consensus rating remains Hold.
• The company recently reported better-than-expected quarterly revenue of $14.87 million and EPS of $0.11, but executives also sold shares recently and insiders now own about 6.3% of the stock.

Everspin Tech (NASDAQ:MRAM - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $26.99, but opened at $36.10. Everspin Tech shares last traded at $35.6880, with a volume of 6,202,963 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Everspin Tech in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Everspin Tech from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Finally, Needham & Company LLC lifted their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the stock a "buy" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $18.50.

Everspin Tech Stock Up 57.0%

The business's 50 day moving average is $11.18 and its two-hundred day moving average is $10.63. The firm has a market capitalization of $993.93 million, a P/E ratio of 4,299.40 and a beta of 1.75.

Everspin Tech (NASDAQ:MRAM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The firm had revenue of $14.87 million for the quarter, compared to analysts' expectations of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Buying and Selling at Everspin Tech

In related news, CFO William Earl Cooper sold 11,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $21.75, for a total value of $239,250.00. Following the completion of the transaction, the chief financial officer owned 161,030 shares in the company, valued at $3,502,402.50. This trade represents a 6.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjeev Aggarwal sold 28,459 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $19.58, for a total value of $557,227.22. Following the sale, the chief executive officer owned 819,422 shares in the company, valued at approximately $16,044,282.76. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 60,448 shares of company stock valued at $989,576. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Everspin Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Herald Investment Management Ltd raised its stake in Everspin Tech by 18.5% during the 3rd quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider's stock valued at $7,416,000 after purchasing an additional 125,000 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Everspin Tech during the third quarter worth approximately $433,000. WINTON GROUP Ltd acquired a new position in Everspin Tech in the 4th quarter valued at approximately $156,000. Trexquant Investment LP purchased a new stake in Everspin Tech in the 4th quarter worth approximately $156,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Everspin Tech in the 4th quarter worth approximately $155,000. Institutional investors and hedge funds own 44.68% of the company's stock.

About Everspin Tech

Everspin Technologies, Inc NASDAQ: MRAM is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin's non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company's product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM's fast write speeds and low power consumption.

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