StockNews.com Upgrades Everspin Technologies (NASDAQ:MRAM) to “Buy”

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

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

Everspin Technologies Price Performance

Everspin Technologies stock opened at $6.36 on Friday. The company’s 50-day moving average is $6.20 and its 200-day moving average is $5.98. The firm has a market capitalization of $139.74 million, a PE ratio of 106.00 and a beta of 0.90. Everspin Technologies has a fifty-two week low of $4.89 and a fifty-two week high of $9.43.

Insiders Place Their Bets

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 23,991 shares of company stock valued at $135,839 over the last ninety days. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everspin Technologies

A number of institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in shares of Everspin Technologies by 75.9% during the second 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 period. Rhumbline Advisers bought a new position in Everspin Technologies during the 2nd quarter worth $129,000. Acadian Asset Management LLC lifted its holdings in shares of Everspin Technologies by 17.0% during the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after buying an additional 121,717 shares in the last quarter. Herald Investment Management Ltd boosted its position in shares of Everspin Technologies by 41.7% in the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock valued at $2,835,000 after acquiring an additional 139,817 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Everspin Technologies by 15.9% in the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock valued at $2,440,000 after acquiring an additional 55,772 shares during the period. 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.