Everspin Technologies Inc (NASDAQ:MRAM) has earned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.
Brokerages have set a one year consensus target price of $14.75 for the company and are expecting that the company will post ($0.43) earnings per share for the current quarter, according to Zacks. Zacks has also given Everspin Technologies an industry rank of 98 out of 255 based on the ratings given to its competitors.
Get Everspin Technologies alerts:Several equities analysts have recently issued reports on MRAM shares. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Everspin Technologies in a report on Friday, March 16th. Zacks Investment Research cut Everspin Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, March 21st. Finally, Stifel Nicolaus decreased their price objective on Everspin Technologies from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, March 16th.
Shares of Everspin Technologies traded down $0.08, hitting $9.17, on Friday, MarketBeat.com reports. The company had a trading volume of 236,996 shares, compared to its average volume of 155,778. The stock has a market cap of $160.90 million, a PE ratio of -5.37 and a beta of 3.33. The company has a quick ratio of 3.24, a current ratio of 3.89 and a debt-to-equity ratio of 0.18. Everspin Technologies has a twelve month low of $6.40 and a twelve month high of $25.39.
Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Friday, May 11th. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.33. The business had revenue of $14.85 million during the quarter, compared to analysts’ expectations of $9.60 million. Everspin Technologies had a negative return on equity of 80.66% and a negative net margin of 38.03%. The company’s revenue for the quarter was up 88.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) EPS. sell-side analysts anticipate that Everspin Technologies will post -0.71 earnings per share for the current fiscal year.
In related news, 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 value of $41,244.06. Following the completion of the transaction, the vice president now owns 13,551 shares of the company’s stock, valued at approximately $116,267.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 24.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp acquired a new position in Everspin Technologies in the 1st quarter worth about $155,000. King Luther Capital Management Corp acquired a new position in Everspin Technologies in the 1st quarter worth about $321,000. B. Riley Financial Inc. raised its holdings in Everspin Technologies by 21.1% in the 4th quarter. B. Riley Financial Inc. now owns 49,300 shares of the business services provider’s stock worth $370,000 after purchasing an additional 8,580 shares during the period. Stifel Financial Corp raised its holdings in Everspin Technologies by 115.6% in 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 period. Finally, Millennium Management LLC acquired a new position in Everspin Technologies in the 1st quarter worth about $647,000. 35.01% of the stock is owned by institutional investors.
Everspin Technologies Company Profile
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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