Everspin Tech (NASDAQ:MRAM) Shares Gap Down – Here’s What Happened

Shares of Everspin Tech (NASDAQ:MRAM) gapped down prior to trading on Tuesday . The stock had previously closed at $39.86, but opened at $36.47. Everspin Tech shares last traded at $39.0280, with a volume of 2,114,336 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently commented on MRAM. Needham & Company LLC boosted their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a report on Friday, March 27th. Finally, Wall Street Zen cut Everspin Tech from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.50.

Everspin Tech Price Performance

The company’s fifty day simple moving average is $12.07 and its 200-day simple moving average is $10.95. The firm has a market capitalization of $810.78 million, a PE ratio of 3,527.33 and a beta of 1.75.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $0.11 earnings per share for the quarter. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.The firm had revenue of $14.87 million during the quarter, compared to analysts’ expectations of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Activity at Everspin Tech

In other Everspin Tech news, CFO William Earl Cooper sold 11,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.75, for a total value of $239,250.00. Following the completion of the transaction, the chief financial officer owned 161,030 shares of the company’s stock, valued at approximately $3,502,402.50. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjeev Aggarwal sold 28,459 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $19.58, for a total value of $557,227.22. Following the completion of the transaction, the chief executive officer directly owned 819,422 shares in the company, valued at approximately $16,044,282.76. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 60,448 shares of company stock worth $989,576. 6.30% of the stock is owned by insiders.

Institutional Trading of Everspin Tech

Several hedge funds and other institutional investors have recently bought and sold shares of MRAM. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Everspin Tech in the fourth quarter worth about $2,204,000. Jane Street Group LLC lifted its position in shares of Everspin Tech by 265.0% during the 4th quarter. Jane Street Group LLC now owns 183,966 shares of the business services provider’s stock valued at $1,707,000 after buying an additional 133,560 shares in the last quarter. Herald Investment Management Ltd increased its holdings in Everspin Tech by 18.5% in the 3rd quarter. Herald Investment Management Ltd now owns 800,000 shares of the business services provider’s stock worth $7,416,000 after acquiring an additional 125,000 shares in the last quarter. Marshall Wace LLP purchased a new position in Everspin Tech during the second quarter valued at $716,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Everspin Tech by 426.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 137,687 shares of the business services provider’s stock worth $1,282,000 after purchasing an additional 111,542 shares in the last quarter. 44.68% of the stock is owned by institutional investors and hedge funds.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.