StockNews.com Initiates Coverage on Everspin Technologies (NASDAQ:MRAM)

Analysts at StockNews.com started coverage on shares of Everspin Technologies (NASDAQ:MRAM – Get Rating) in a research report issued on Thursday. The brokerage set a “buy” rating on the business services provider’s stock.

Separately, Needham & Company LLC boosted their price objective on shares of Everspin Technologies from $9.00 to $10.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 2nd.

Everspin Technologies Price Performance

Everspin Technologies stock opened at $7.75 on Thursday. Everspin Technologies has a 1-year low of $4.71 and a 1-year high of $9.41. The company has a market cap of $159.70 million, a PE ratio of 33.67 and a beta of 1.31. The stock’s 50 day moving average price is $6.61 and its 200 day moving average price is $6.45.

Everspin Technologies (NASDAQ:MRAM – Get Rating) last posted its quarterly earnings results on Wednesday, March 1st. The business services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Everspin Technologies had a net margin of 8.19% and a return on equity of 13.28%. The business had revenue of $15.69 million during the quarter.

Insiders Place Their Bets

In other Everspin Technologies news, CFO Anuj Aggarwal sold 5,139 shares of the business’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $6.62, for a total transaction of $34,020.18. Following the sale, the chief financial officer now directly owns 220,775 shares in the company, valued at $1,461,530.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Everspin Technologies news, Director Darin G. Billerbeck sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $6.67, for a total value of $66,700.00. Following the sale, the director now owns 86,197 shares of the company’s stock, valued at $574,933.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anuj Aggarwal sold 5,139 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $6.62, for a total transaction of $34,020.18. Following the completion of the sale, the chief financial officer now directly owns 220,775 shares in the company, valued at approximately $1,461,530.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,197 shares of company stock worth $152,894. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Everspin Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Everspin Technologies in the third quarter valued at $64,000. Acuitas Investments LLC purchased a new position in shares of Everspin Technologies during the fourth quarter valued at approximately $217,000. Cowen Prime Advisors LLC lifted its stake in shares of Everspin Technologies by 235.0% during the fourth quarter. Cowen Prime Advisors LLC now owns 10,887 shares of the business services provider’s stock valued at $61,000 after buying an additional 7,637 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Everspin Technologies during the third quarter valued at approximately $303,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Everspin Technologies during the third quarter valued at approximately $58,000. 41.91% of the stock is currently owned by hedge funds and other institutional investors.

About Everspin Technologies

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Everspin Technologies, Inc engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products include Toggle MRAM, Spin-transfer Torque MRAM, TMR Sensors, and Embedded MRAM. The company was founded by Saied Tehrani in June 2008 and is headquartered in Chandler, AZ.