Everspin Technologies (NASDAQ:MRAM) Raised to “Buy” at StockNews.com

Everspin Technologies (NASDAQ:MRAM) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

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

Everspin Technologies Trading Down 2.0 %

NASDAQ MRAM opened at $6.23 on Friday. Everspin Technologies has a 12 month low of $4.89 and a 12 month high of $9.43. The stock has a market cap of $136.87 million, a price-to-earnings ratio of 103.83 and a beta of 0.90. The company’s 50 day moving average is $6.19 and its two-hundred day moving average is $5.98.

Insider Buying and Selling

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the completion of the transaction, the chief executive officer now owns 440,215 shares in the company, valued at approximately $2,438,791.10. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 23,991 shares of company stock worth $135,839. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Everspin Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Everspin Technologies by 0.5% during the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after purchasing an additional 1,941 shares in the last quarter. State Street Corp boosted its stake in Everspin Technologies by 1.5% during the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock valued at $1,294,000 after buying an additional 3,298 shares during the last quarter. Eastern Bank purchased a new position in Everspin Technologies during the 3rd quarter valued at approximately $50,000. Total Clarity Wealth Management Inc. increased its stake in Everspin Technologies by 11.3% in the 2nd quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock worth $517,000 after acquiring an additional 8,767 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Everspin Technologies during the 2nd quarter worth approximately $70,000. 44.68% of the stock is currently owned by institutional investors.

About Everspin Technologies

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.