StockNews.com Upgrades Everspin Technologies (NASDAQ:MRAM) to Buy

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a buy rating in a report issued on Friday.

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

Everspin Technologies Stock Performance

Shares of MRAM opened at $5.81 on Friday. The stock has a 50-day simple moving average of $5.86 and a 200-day simple moving average of $6.05. Everspin Technologies has a 1 year low of $4.89 and a 1 year high of $9.44. The stock has a market capitalization of $126.31 million, a PE ratio of 96.83 and a beta of 0.90.

Insider Buying and Selling at Everspin Technologies

In other 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 value 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 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 25,347 shares of company stock worth $139,635 over the last three months. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Everspin Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank acquired a new stake in shares of Everspin Technologies during the third quarter worth about $50,000. Mackenzie Financial Corp acquired a new position in Everspin Technologies during the second quarter worth approximately $70,000. Rhumbline Advisers purchased a new stake in Everspin Technologies in the second quarter valued at approximately $129,000. Oppenheimer & Close LLC purchased a new stake in Everspin Technologies in the first quarter valued at approximately $491,000. Finally, Total Clarity Wealth Management Inc. boosted its holdings in shares of Everspin Technologies by 11.3% in the second quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock valued at $517,000 after acquiring an additional 8,767 shares during the period. 44.68% of the stock is owned by hedge funds and other 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.