Everspin Tech (NASDAQ:MRAM) Shares Gap Down – What’s Next?

Shares of Everspin Tech (NASDAQ:MRAM) gapped down before the market opened on Wednesday . The stock had previously closed at $24.18, but opened at $22.76. Everspin Tech shares last traded at $22.4160, with a volume of 332,567 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Needham & Company LLC lifted their price target on 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 reaffirmed a “sell (d+)” rating on shares of Everspin Tech in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Everspin Tech Stock Performance

The company’s fifty day moving average price is $25.66 and its 200 day moving average price is $15.93. The firm has a market capitalization of $534.19 million, a price-to-earnings ratio of 2,278.78 and a beta of 1.87.

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

Insider Activity

In other Everspin Tech news, CEO Sanjeev Aggarwal sold 28,459 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $19.58, for a total value of $557,227.22. Following the sale, the chief executive officer directly owned 819,422 shares of the company’s stock, valued at $16,044,282.76. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief financial officer owned 161,030 shares in the company, valued at $3,502,402.50. The trade was a 6.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 155,510 shares of company stock worth $4,839,122 over the last 90 days. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MRAM. Bank of America Corp DE grew its position in Everspin Tech by 783.4% in the 1st quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock worth $1,929,000 after purchasing an additional 194,617 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Everspin Tech by 27.9% during the first quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock valued at $2,939,000 after buying an additional 73,000 shares during the last quarter. Sei Investments Co. boosted its position in shares of Everspin Tech by 25.7% during the first quarter. Sei Investments Co. now owns 66,202 shares of the business services provider’s stock worth $582,000 after buying an additional 13,516 shares during the period. State of Wyoming bought a new position in Everspin Tech in the 1st quarter worth approximately $189,000. Finally, Dimensional Fund Advisors LP grew its holdings in Everspin Tech by 13.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock worth $3,594,000 after buying an additional 46,929 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.