Everspin Technologies Inc (NASDAQ:MRAM)’s share price shot up 6.1% during trading on Friday . The company traded as high as $6.36 and last traded at $6.22, 11,663 shares traded hands during mid-day trading. A decline of 85% from the average session volume of 76,648 shares. The stock had previously closed at $5.86.
A number of research firms have commented on MRAM. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of SCYNEXIS in a report on Sunday, May 12th.
The company has a current ratio of 2.55, a quick ratio of 1.84 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $6.68. The firm has a market capitalization of $99.71 million, a P/E ratio of -5.75 and a beta of 2.23.
Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01. The business had revenue of $10.03 million during the quarter, compared to the consensus estimate of $9.70 million. Everspin Technologies had a negative return on equity of 76.21% and a negative net margin of 44.80%. Research analysts forecast that Everspin Technologies Inc will post -1.06 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in MRAM. Raging Capital Management LLC raised its stake in shares of Everspin Technologies by 91.7% during the 4th 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. acquired a new position in shares of Everspin Technologies during the 4th quarter worth $80,000. Bank of New York Mellon Corp acquired a new position in shares of Everspin Technologies during the 4th quarter worth $80,000. Finally, BlackRock Inc. raised its stake in shares of Everspin Technologies by 6.5% during the 4th 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. 40.06% of the stock is owned by institutional investors and hedge funds.
About Everspin Technologies (NASDAQ:MRAM)
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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