Everspin Technologies (NASDAQ:MRAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $8.00 target price on shares of Everspin Technologies in a research report on Thursday, October 31st.

Everspin Technologies Trading Down 1.4 %

NASDAQ MRAM opened at $6.48 on Friday. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.39. The firm’s fifty day simple moving average is $6.22 and its two-hundred day simple moving average is $6.00. The firm has a market capitalization of $142.38 million, a P/E ratio of 108.00 and a beta of 0.90.

Insiders Place Their Bets

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total value of $97,077.42. Following the completion of the transaction, the chief executive officer now owns 440,215 shares in the company, valued at $2,438,791.10. The trade was a 3.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 23,991 shares of company stock worth $135,839. Corporate insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

Several institutional investors have recently bought and sold shares of MRAM. Geode Capital Management LLC lifted its position in shares of Everspin Technologies by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after buying an additional 1,941 shares in the last quarter. State Street Corp lifted its holdings in Everspin Technologies by 1.5% during the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock valued at $1,294,000 after purchasing an additional 3,298 shares in the last quarter. Eastern Bank acquired a new stake in shares of Everspin Technologies in the third quarter valued at about $50,000. Total Clarity Wealth Management Inc. increased its stake in shares of Everspin Technologies by 11.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock worth $517,000 after purchasing an additional 8,767 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Everspin Technologies during the 2nd quarter worth about $70,000. 44.68% of the stock is owned by institutional investors and hedge funds.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.