Everspin Technologies (NASDAQ:MRAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a buy rating in a research note released on Friday morning.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Everspin Technologies in a research report on Thursday, October 31st.

Everspin Technologies Stock Down 2.0 %

MRAM opened at $6.23 on Friday. The company’s 50-day moving average price is $6.19 and its 200 day moving average price is $5.98. Everspin Technologies has a fifty-two week low of $4.89 and a fifty-two week high of $9.43. The firm has a market cap of $136.87 million, a price-to-earnings ratio of 103.83 and a beta of 0.90.

Insider Buying and Selling

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total transaction of $97,077.42. Following the sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at $2,438,791.10. The trade was a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 23,991 shares of company stock valued at $135,839 in the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Herald Investment Management Ltd raised its holdings in Everspin Technologies by 41.7% during the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after purchasing an additional 139,817 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Everspin Technologies by 17.0% during the 2nd quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after purchasing an additional 121,717 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Everspin Technologies by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after buying an additional 55,772 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Everspin Technologies by 75.9% in the second quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock valued at $681,000 after buying an additional 49,032 shares during the period. Finally, Barclays PLC boosted its stake in Everspin Technologies by 157.9% during the third 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. 44.68% of the stock is owned by institutional investors and hedge funds.

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.