Zacks Investment Research upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “

A number of other research firms have also issued reports on MRAM. Needham & Company LLC reaffirmed a buy rating and set a $14.00 target price on shares of Everspin Technologies in a report on Thursday, August 9th. TheStreet raised Everspin Technologies from a d rating to a c- rating in a report on Monday, August 6th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $13.75.

NASDAQ:MRAM traded down $0.06 during mid-day trading on Wednesday, reaching $6.81. 104,580 shares of the stock were exchanged, compared to its average volume of 131,748. The firm has a market cap of $129.82 million, a P/E ratio of -4.03 and a beta of 3.01. Everspin Technologies has a 1-year low of $6.40 and a 1-year high of $12.73. The company has a quick ratio of 2.57, a current ratio of 3.20 and a debt-to-equity ratio of 0.17.

Everspin Technologies (NASDAQ:MRAM) last released its earnings results on Wednesday, August 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.02. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $11.10 million. Everspin Technologies had a negative return on equity of 75.89% and a negative net margin of 39.62%. Everspin Technologies’s revenue was up 21.3% on a year-over-year basis. Sell-side analysts expect that Everspin Technologies will post -1.13 EPS for the current year.

Several large investors have recently added to or reduced their stakes in MRAM. Northern Trust Corp acquired a new position in shares of Everspin Technologies in the 1st quarter valued at $155,000. Stifel Financial Corp boosted its position in shares of Everspin Technologies by 115.6% in the 1st quarter. Stifel Financial Corp now owns 64,968 shares of the business services provider’s stock valued at $504,000 after purchasing an additional 34,834 shares during the period. Millennium Management LLC acquired a new position in shares of Everspin Technologies in the 1st quarter valued at $647,000. Royal Bank of Canada boosted its position in shares of Everspin Technologies by 14.2% in the 1st quarter. Royal Bank of Canada now owns 226,916 shares of the business services provider’s stock valued at $1,713,000 after purchasing an additional 28,166 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in shares of Everspin Technologies in the 1st quarter valued at $3,662,000. Institutional investors and hedge funds own 33.72% of the company’s stock.

Everspin Technologies Company Profile

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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