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

Everspin Technologies (NASDAQ:MRAMGet Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

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

Check Out Our Latest Stock Report on Everspin Technologies

Everspin Technologies Stock Down 1.6 %

Shares of Everspin Technologies stock opened at $6.17 on Wednesday. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.43. The business’s 50 day moving average is $6.10 and its 200-day moving average is $5.95. The stock has a market cap of $135.55 million, a P/E ratio of 102.83 and a beta of 0.90.

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total value of $97,077.42. Following the transaction, the chief executive officer now directly owns 440,215 shares in the company, valued at $2,438,791.10. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 24,022 shares of company stock worth $133,620 over the last 90 days. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Everspin Technologies by 3.0% during the first quarter. Vanguard Group Inc. now owns 776,934 shares of the business services provider’s stock worth $6,153,000 after acquiring an additional 22,657 shares during the last quarter. Oppenheimer & Close LLC lifted its holdings in Everspin Technologies by 32.3% during the 2nd quarter. Oppenheimer & Close LLC now owns 82,000 shares of the business services provider’s stock worth $491,000 after purchasing an additional 20,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Everspin Technologies by 75.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock worth $681,000 after purchasing an additional 49,032 shares during the last quarter. Rhumbline Advisers bought a new stake in Everspin Technologies in the 2nd quarter valued at $129,000. Finally, Acadian Asset Management LLC grew its holdings in Everspin Technologies by 17.0% in the 2nd quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after buying an additional 121,717 shares in the last quarter. Institutional investors own 44.68% of the company’s stock.

About Everspin Technologies

(Get Free Report)

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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