Everspin Technologies (NASDAQ:MRAM) Downgraded to "Hold" Rating by StockNews.com

Everspin Technologies (NASDAQ:MRAM - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Thursday.

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

Everspin Technologies Price Performance

NASDAQ MRAM opened at $6.04 on Thursday. The company has a 50-day moving average of $5.99 and a 200-day moving average of $5.95. Everspin Technologies has a 12 month low of $4.89 and a 12 month high of $9.43. The company has a market cap of $132.70 million, a P/E ratio of 100.67 and a beta of 0.90.

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total value of $97,077.42. Following the sale, the chief executive officer now directly owns 440,215 shares in the company, valued at $2,438,791.10. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 24,037 shares of company stock worth $132,561 over the last ninety days. Company insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Everspin Technologies

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in shares of 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 valued at $5,003,000 after acquiring an additional 121,717 shares in the last quarter. Herald Investment Management Ltd boosted its stake in Everspin Technologies by 41.7% during the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider's stock valued at $2,835,000 after buying an additional 139,817 shares in the last quarter. Bank of New York Mellon Corp raised its position in Everspin Technologies by 75.9% in 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Everspin Technologies by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider's stock valued at $6,153,000 after acquiring an additional 22,657 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Everspin Technologies in the 2nd quarter worth approximately $129,000. Institutional investors and hedge funds own 44.68% of the company's stock.

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.