Everspin Technologies (NASDAQ:MRAM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM - Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, Needham & Company LLC reaffirmed 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 Stock Performance

Shares of MRAM stock traded down $0.04 during trading hours on Wednesday, hitting $6.13. 79,336 shares of the company were exchanged, compared to its average volume of 118,532. The firm has a market cap of $134.69 million, a P/E ratio of 102.83 and a beta of 0.90. Everspin Technologies has a fifty-two week low of $4.89 and a fifty-two week high of $9.43. The company has a 50 day simple moving average of $6.10 and a two-hundred day simple moving average of $5.95.

Insider Activity at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of the firm's 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 transaction, the chief executive officer now directly owns 440,215 shares in the company, valued at approximately $2,438,791.10. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 24,022 shares of company stock valued at $133,620. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Everspin Technologies

Several large investors have recently bought and sold shares of MRAM. Barclays PLC raised its stake in shares of Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider's stock worth $310,000 after purchasing an additional 32,240 shares during the period. Geode Capital Management LLC increased its holdings in Everspin Technologies by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider's stock worth $2,437,000 after acquiring an additional 1,941 shares during the last quarter. Jane Street Group LLC purchased a new stake in Everspin Technologies in the 3rd quarter worth about $82,000. State Street Corp increased its holdings in Everspin Technologies by 1.5% in the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider's stock worth $1,294,000 after acquiring an additional 3,298 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Everspin Technologies by 222.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider's stock worth $122,000 after acquiring an additional 14,220 shares during the last quarter. 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.