Everspin Technologies (NASDAQ:MRAM) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a sell rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

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. “

Separately, Needham & Company LLC reiterated a buy rating and set a $5.00 price objective on shares of SCYNEXIS in a research note on Sunday, May 12th.



MRAM opened at $6.59 on Thursday. The stock has a market capitalization of $112.90 million, a price-to-earnings ratio of -6.10 and a beta of 2.23. The firm’s 50 day moving average price is $6.59. Everspin Technologies has a 52-week low of $5.30 and a 52-week high of $11.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.55 and a quick ratio of 1.84.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.01. The company had revenue of $10.03 million for the quarter, compared to analyst estimates of $9.70 million. Everspin Technologies had a negative net margin of 44.80% and a negative return on equity of 76.21%.

Several institutional investors and hedge funds have recently bought and sold shares of MRAM. Raging Capital Management LLC increased its stake in shares of Everspin Technologies by 91.7% in the fourth quarter. Raging Capital Management LLC now owns 1,485,433 shares of the business services provider’s stock worth $8,333,000 after buying an additional 710,433 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Everspin Technologies in the fourth quarter worth $80,000. Bank of New York Mellon Corp bought a new stake in shares of Everspin Technologies in the fourth quarter worth $80,000. Finally, BlackRock Inc. increased its stake in shares of Everspin Technologies by 6.5% in the fourth quarter. BlackRock Inc. now owns 195,709 shares of the business services provider’s stock worth $1,097,000 after buying an additional 11,959 shares during the last quarter. Institutional investors own 40.06% 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, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.

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