Everspin Technologies (NASDAQ:MRAM) Stock Rating Upgraded by StockNews.com

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

Separately, Needham & Company LLC reissued a "buy" rating and issued a $8.00 price target on shares of Everspin Technologies in a research note on Thursday, October 31st.

Everspin Technologies Trading Up 0.3 %

MRAM stock traded up $0.02 during midday trading on Friday, reaching $6.57. The stock had a trading volume of 102,800 shares, compared to its average volume of 120,971. Everspin Technologies has a 52-week low of $4.89 and a 52-week high of $9.40. The company's fifty day simple moving average is $6.21 and its 200 day simple moving average is $6.00. The company has a market cap of $144.36 million, a price-to-earnings ratio of 109.50 and a beta of 0.90.

Insider Buying and Selling

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the transaction, the chief executive officer now owns 440,215 shares of the company's stock, valued at approximately $2,438,791.10. The trade was a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 23,991 shares of company stock worth $135,839. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everspin Technologies

Institutional investors have recently bought and sold shares of the company. Herald Investment Management Ltd increased its holdings in shares of Everspin Technologies by 41.7% during the 2nd quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider's stock worth $2,835,000 after buying an additional 139,817 shares during the last quarter. Acadian Asset Management LLC grew its position in Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider's stock worth $5,003,000 after acquiring an additional 121,717 shares during the period. Dimensional Fund Advisors LP increased its stake in Everspin Technologies by 15.9% during the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider's stock worth $2,440,000 after acquiring an additional 55,772 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Everspin Technologies by 75.9% during the second quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider's stock worth $681,000 after acquiring an additional 49,032 shares during the last quarter. Finally, Barclays PLC raised its position in Everspin Technologies by 157.9% in the third quarter. Barclays PLC now owns 52,654 shares of the business services provider's stock valued at $310,000 after purchasing an additional 32,240 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.