StockNews.com cut shares of Everspin Technologies (NASDAQ:MRAM - Free Report) from a buy rating to a hold rating in a research report report published on Thursday morning.
Separately, Needham & Company LLC restated a "buy" rating and issued a $8.00 target price on shares of Everspin Technologies in a research note on Thursday, October 31st.
Read Our Latest Stock Report on Everspin Technologies
Everspin Technologies Stock Performance
Shares of NASDAQ:MRAM traded down $0.10 during trading on Thursday, reaching $6.45. 127,156 shares of the stock were exchanged, compared to its average volume of 119,227. The firm's 50-day moving average price is $6.17 and its 200 day moving average price is $5.96. The firm has a market cap of $141.72 million, a price-to-earnings ratio of 107.50 and a beta of 0.90. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.43.
Insider Transactions at Everspin Technologies
In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 440,215 shares in the company, valued at $2,438,791.10. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 24,022 shares of company stock worth $133,620. 6.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Everspin Technologies
Several hedge funds have recently made changes to their positions in MRAM. Eastern Bank purchased a new position in Everspin Technologies in the third quarter valued at about $50,000. Mackenzie Financial Corp acquired a new stake in Everspin Technologies in the 2nd quarter worth approximately $70,000. Jane Street Group LLC bought a new stake in Everspin Technologies during the third quarter valued at about $82,000. BNP Paribas Financial Markets boosted its stake in Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider's stock valued at $122,000 after purchasing an additional 14,220 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of Everspin Technologies in the second quarter worth $129,000. Institutional investors and hedge funds own 44.68% of the company's stock.
Everspin Technologies Company Profile
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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.
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