Eastern Bank Invests $50,000 in Everspin Technologies, Inc. (NASDAQ:MRAM)

Eastern Bank acquired a new position in shares of Everspin Technologies, Inc. (NASDAQ:MRAM) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,400 shares of the business services provider’s stock, valued at approximately $50,000.

A number of other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp bought a new stake in shares of Everspin Technologies in the second quarter valued at approximately $70,000. Rhumbline Advisers acquired a new position in Everspin Technologies during the second quarter valued at approximately $129,000. Oppenheimer & Close LLC acquired a new position in Everspin Technologies during the first quarter valued at approximately $491,000. GSA Capital Partners LLP increased its holdings in shares of Everspin Technologies by 4.1% during the first quarter. GSA Capital Partners LLP now owns 70,840 shares of the business services provider’s stock worth $561,000 after buying an additional 2,764 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. increased its holdings in shares of Everspin Technologies by 11.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock worth $517,000 after buying an additional 8,767 shares in the last quarter. Institutional investors own 44.68% of the company’s stock.

Everspin Technologies Stock Up 5.8 %

NASDAQ MRAM opened at $6.37 on Friday. The company has a market capitalization of $138.48 million, a price-to-earnings ratio of 91.00 and a beta of 0.91. Everspin Technologies, Inc. has a twelve month low of $4.89 and a twelve month high of $9.82. The stock has a fifty day simple moving average of $5.79 and a 200 day simple moving average of $6.11.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of $10.64 million during the quarter. Everspin Technologies had a return on equity of 3.16% and a net margin of 2.92%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MRAM shares. StockNews.com downgraded shares of Everspin Technologies from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, August 1st.

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies 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 sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 25,347 shares of company stock valued at $139,635. 6.10% of the stock is currently owned by insiders.

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.