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

Everspin Technologies (NASDAQ:MRAM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Separately, Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Everspin Technologies in a research report on Thursday, October 31st.

Everspin Technologies Price Performance

Shares of MRAM stock opened at $6.23 on Friday. The company has a market cap of $136.87 million, a PE ratio of 103.83 and a beta of 0.90. The stock’s 50 day simple moving average is $6.19 and its two-hundred day simple moving average is $5.98. Everspin Technologies has a 1 year low of $4.89 and a 1 year high of $9.43.

Insider Buying and Selling

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’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 completion of the transaction, the chief executive officer now owns 440,215 shares in the company, valued at $2,438,791.10. The trade was a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 23,991 shares of company stock valued at $135,839 in the last ninety days. 6.10% of the stock is owned by company insiders.

Institutional Trading of Everspin Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Everspin Technologies by 157.9% during 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. Geode Capital Management LLC lifted its holdings in Everspin Technologies by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after buying an additional 1,941 shares in the last quarter. Jane Street Group LLC purchased a new stake in Everspin Technologies in the 3rd quarter valued at about $82,000. State Street Corp boosted its position 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 valued at $1,294,000 after buying an additional 3,298 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Everspin Technologies by 222.9% during the third 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 period. Hedge funds and other institutional investors own 44.68% of the company’s stock.

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.