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

StockNews.com lowered shares of Everspin Technologies (NASDAQ:MRAM) from a buy rating to a hold rating in a report issued on Thursday morning.

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

Everspin Technologies Price Performance

NASDAQ:MRAM opened at $6.36 on Thursday. The business’s 50-day simple moving average is $6.03 and its 200-day simple moving average is $5.95. Everspin Technologies has a fifty-two week low of $4.89 and a fifty-two week high of $9.43. The stock has a market capitalization of $139.73 million, a PE ratio of 106.00 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 that occurred 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 of the company’s stock, valued at $2,438,791.10. This represents a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 24,037 shares of company stock valued at $132,561 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of Everspin Technologies

A number of institutional investors have recently made changes to their positions in the business. Eastern Bank bought a new position in Everspin Technologies in the third quarter valued at $50,000. Mackenzie Financial Corp acquired a new position in shares of Everspin Technologies during the 2nd quarter worth about $70,000. Jane Street Group LLC bought a new stake in Everspin Technologies in the third quarter valued at approximately $82,000. BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 14,220 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of Everspin Technologies during the 2nd quarter worth about $129,000. Institutional investors 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.