Everspin Technologies (NASDAQ:MRAM) Raised 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 report published on Friday morning.

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

Everspin Technologies Price Performance

MRAM traded down $0.13 during trading on Friday, reaching $6.23. 403,105 shares of the company's stock were exchanged, compared to its average volume of 121,544. Everspin Technologies has a 1 year low of $4.89 and a 1 year high of $9.43. The company's fifty day simple moving average is $6.20 and its 200-day simple moving average is $5.98. The stock has a market capitalization of $136.89 million, a P/E ratio of 103.83 and a beta of 0.90.

Insider Buying and Selling

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total value of $97,077.42. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 23,991 shares of company stock valued at $135,839 over the last ninety days. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Everspin Technologies

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in 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 worth $2,437,000 after buying an additional 1,941 shares in the last quarter. State Street Corp raised its position in shares of Everspin Technologies by 1.5% in the third 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 period. Eastern Bank purchased a new stake in shares of Everspin Technologies during the 3rd quarter worth about $50,000. Total Clarity Wealth Management Inc. grew its position in shares of Everspin Technologies by 11.3% during the 2nd 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. Finally, Mackenzie Financial Corp acquired a new stake in shares of Everspin Technologies during the 2nd quarter valued at about $70,000. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Technologies Company Profile

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.