Everspin Technologies (NASDAQ:MRAM) Now Covered by Analysts at Needham & Company LLC

Investment analysts at Needham & Company LLC initiated coverage on shares of Everspin Technologies (NASDAQ:MRAM - Get Free Report) in a research report issued on Thursday. The brokerage set a "buy" rating on the business services provider's stock.

Separately, StockNews.com cut Everspin Technologies from a "buy" rating to a "hold" rating in a report on Friday, February 28th.

Everspin Technologies Stock Down 0.9 %

NASDAQ:MRAM traded down $0.05 during trading hours on Thursday, reaching $5.73. The company had a trading volume of 57,483 shares, compared to its average volume of 121,335. The firm has a market cap of $128.08 million, a price-to-earnings ratio of 95.50 and a beta of 0.62. Everspin Technologies has a twelve month low of $4.34 and a twelve month high of $7.00. The business's 50-day simple moving average is $5.18 and its two-hundred day simple moving average is $5.83.

Everspin Technologies (NASDAQ:MRAM - Get Free Report) last posted its earnings results on Wednesday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $13.20 million during the quarter, compared to the consensus estimate of $12.50 million. Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%.

Insider Activity

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 35,142 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $5.37, for a total value of $188,712.54. Following the transaction, the chief executive officer now directly owns 654,828 shares of the company's stock, valued at approximately $3,516,426.36. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 54,422 shares of company stock worth $285,429. Insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On Everspin Technologies

Several large investors have recently made changes to their positions in MRAM. Herald Investment Management Ltd grew its stake in shares of Everspin Technologies by 20.0% in 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 in the last quarter. Bailard Inc. purchased a new stake in Everspin Technologies during the fourth quarter valued at approximately $292,000. Barclays PLC increased its position in Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider's stock valued at $310,000 after buying an additional 32,240 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in shares of Everspin Technologies in the fourth quarter worth $162,000. Finally, JPMorgan Chase & Co. raised its stake in Everspin Technologies by 49.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider's stock worth $346,000 after acquiring an additional 19,367 shares during the last quarter. 44.68% of the stock is currently owned by hedge funds and other institutional investors.

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.