Wall Street Zen upgraded shares of EVERSPIN TECH (NASDAQ:MRAM - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
Separately, Needham & Company LLC initiated coverage on EVERSPIN TECH in a research note on Thursday, May 1st. They issued a "buy" rating on the stock.
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EVERSPIN TECH Stock Up 0.4%
MRAM traded up $0.03 during midday trading on Friday, hitting $6.33. 16,465 shares of the company were exchanged, compared to its average volume of 111,549. The firm has a market capitalization of $143.07 million, a P/E ratio of 89.71 and a beta of 0.13. EVERSPIN TECH has a 1-year low of $4.34 and a 1-year high of $7.08. The firm's 50 day moving average price is $6.34 and its 200-day moving average price is $5.80.
Insider Activity
In other news, CEO Sanjeev Aggarwal sold 17,327 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $6.47, for a total value of $112,105.69. Following the transaction, the chief executive officer directly owned 607,706 shares of the company's stock, valued at $3,931,857.82. The trade was a 2.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 36,918 shares of company stock valued at $239,346. 6.90% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in MRAM. Lynrock Lake LP raised its stake in 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 worth $8,090,000 after buying an additional 902,489 shares during the period. Herald Investment Management Ltd raised its stake in EVERSPIN TECH by 20.0% during the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider's stock worth $3,822,000 after buying an additional 100,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in EVERSPIN TECH during the 2nd quarter worth approximately $428,000. Nuveen LLC acquired a new position in EVERSPIN TECH during the 1st quarter worth approximately $133,000. Finally, Dimensional Fund Advisors LP raised its stake in EVERSPIN TECH by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider's stock worth $2,675,000 after buying an additional 16,032 shares during the period. 44.68% of the stock is owned by institutional investors and hedge funds.
About EVERSPIN TECH
(
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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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