Everspin Technologies (MRAM) Shares Gap Down to $6.96
Everspin Technologies Inc (NASDAQ:MRAM) shares gapped down prior to trading on Friday . The stock had previously closed at $6.49, but opened at $6.96. Everspin Technologies shares last traded at $6.70, with a volume of 170603 shares trading hands.
A number of brokerages recently weighed in on MRAM. Zacks Investment Research raised shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 price target on shares of Everspin Technologies in a research note on Thursday, January 18th. Canaccord Genuity decreased their price target on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. decreased their price target on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target on shares of Everspin Technologies in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $16.75.
The stock has a market capitalization of $110.81, a P/E ratio of -3.92 and a beta of 3.08. The company has a current ratio of 3.04, a quick ratio of 2.27 and a debt-to-equity ratio of 0.74.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN purchased a new position in Everspin Technologies in the 2nd quarter worth approximately $322,000. Mesirow Financial Investment Management Inc. purchased a new position in Everspin Technologies in the 2nd quarter worth approximately $419,000. Stifel Financial Corp purchased a new position in Everspin Technologies in the 2nd quarter worth approximately $525,000. Granite Investment Partners LLC purchased a new position in Everspin Technologies in the 3rd quarter worth approximately $560,000. Finally, B. Riley Financial Inc. lifted its stake in Everspin Technologies by 135.2% in the 3rd quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock worth $696,000 after purchasing an additional 23,408 shares in the last quarter. 24.22% of the stock is currently owned by institutional investors and hedge funds.
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Everspin Technologies Company Profile
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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