Everspin Technologies (NASDAQ:MRAM) VP Thomas Andre sold 4,807 shares of the company’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $8.58, for a total transaction of $41,244.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Everspin Technologies stock traded down $0.05 during trading hours on Thursday, reaching $8.59. The stock had a trading volume of 114,684 shares, compared to its average volume of 163,266. The company has a market cap of $146.90 million, a P/E ratio of -5.08 and a beta of 3.26. Everspin Technologies has a twelve month low of $8.45 and a twelve month high of $8.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.24 and a current ratio of 3.89.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Friday, May 11th. The business services provider reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.33. The business had revenue of $14.85 million during the quarter, compared to the consensus estimate of $9.60 million. Everspin Technologies had a negative net margin of 38.03% and a negative return on equity of 80.66%. The company’s revenue was up 88.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. equities research analysts forecast that Everspin Technologies will post -0.71 EPS for the current year.
Several institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new position in shares of Everspin Technologies in the first quarter worth about $647,000. Stifel Financial Corp raised its position in shares of Everspin Technologies by 115.6% during 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 last quarter. Employees Retirement System of Texas raised its position in shares of Everspin Technologies by 50.0% during the 1st quarter. Employees Retirement System of Texas now owns 294,000 shares of the business services provider’s stock worth $2,220,000 after purchasing an additional 98,000 shares during the last quarter. Northern Trust Corp acquired a new position in shares of Everspin Technologies during the 1st quarter worth about $155,000. Finally, King Luther Capital Management Corp acquired a new position in shares of Everspin Technologies during the 1st quarter worth about $321,000. Institutional investors and hedge funds own 18.59% of the company’s stock.
MRAM has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $17.00 price objective on shares of Everspin Technologies in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of Everspin Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus decreased their price objective on shares of Everspin Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, March 16th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $13.75.
About Everspin Technologies
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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