Zacks Investment Research upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a sell rating to a hold rating in a research note released on Wednesday.

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. “

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC restated a buy rating and set a $14.00 price target on shares of Everspin Technologies in a report on Thursday, August 9th. TheStreet upgraded Everspin Technologies from a d rating to a c- rating in a report on Monday, August 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $13.75.

NASDAQ MRAM opened at $7.91 on Wednesday. The company has a market cap of $134.90 million, a price-to-earnings ratio of -4.68 and a beta of 2.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.20 and a quick ratio of 2.57. Everspin Technologies has a 1-year low of $6.40 and a 1-year high of $19.25.

Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings results on Wednesday, August 8th. The business services provider reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.02. The business had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $11.10 million. Everspin Technologies had a negative return on equity of 75.89% and a negative net margin of 39.62%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. research analysts forecast that Everspin Technologies will post -1.13 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in MRAM. Janney Montgomery Scott LLC purchased a new position in shares of Everspin Technologies in the 2nd quarter worth approximately $115,000. Northern Trust Corp purchased a new position in shares of Everspin Technologies in the 1st quarter worth approximately $155,000. King Luther Capital Management Corp purchased a new position in shares of Everspin Technologies in the 1st quarter worth approximately $321,000. Stifel Financial Corp boosted its holdings in shares of Everspin Technologies by 115.6% in the 1st quarter. Stifel Financial Corp now owns 64,968 shares of the business services provider’s stock worth $504,000 after purchasing an additional 34,834 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Everspin Technologies in the 1st quarter worth approximately $647,000. Hedge funds and other institutional investors own 33.72% of the company’s stock.

Everspin Technologies Company Profile

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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