Everspin Technologies Inc (MRAM) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Everspin Technologies Inc (NASDAQ:MRAM) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “

Separately, Canaccord Genuity reiterated a buy rating and set a $12.00 price objective on shares of Everspin Technologies in a research note on Monday, March 13th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Everspin Technologies has a consensus rating of Buy and a consensus price target of $11.20.

Shares of Everspin Technologies (NASDAQ:MRAM) traded up 1.20% during trading on Thursday, reaching $9.27. 52,749 shares of the company’s stock were exchanged. The stock’s market cap is $115.88 million. The company has a 50 day moving average of $8.40 and a 200 day moving average of $7.85. Everspin Technologies has a 12-month low of $6.15 and a 12-month high of $10.28.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Friday, March 10th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.17. The firm had revenue of $7.10 million for the quarter, compared to the consensus estimate of $7.50 million. Equities research analysts anticipate that Everspin Technologies will post ($1.31) EPS for the current year.

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A hedge fund recently bought a new stake in Everspin Technologies stock. Unterberg Capital LLC purchased a new position in Everspin Technologies Inc (NASDAQ:MRAM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 116,732 shares of the business services provider’s stock, valued at approximately $968,000. Everspin Technologies makes up approximately 1.2% of Unterberg Capital LLC’s portfolio, making the stock its 16th largest position. Unterberg Capital LLC owned approximately 0.93% of Everspin Technologies at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.48% of the company’s stock.

About Everspin Technologies

Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.

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