Everspin Technologies (NASDAQ:MRAM) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Everspin Technologies (NASDAQ:MRAM) from a sell rating to a hold rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “

Separately, Needham & Company LLC reaffirmed a buy rating and set a $5.00 price objective on shares of SCYNEXIS in a report on Sunday, May 12th.

NASDAQ MRAM opened at $6.59 on Thursday. 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 business’s fifty day moving average price is $6.59. The company has a market cap of $112.90 million, a P/E ratio of -6.10 and a beta of 2.23. Everspin Technologies has a 1 year low of $5.30 and a 1 year high of $11.20.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 44.80% and a negative return on equity of 76.21%.

A number of large investors have recently added to or reduced their stakes in MRAM. D. E. Shaw & Co. Inc. acquired a new position in Everspin Technologies during the 4th quarter valued at $80,000. Bank of New York Mellon Corp acquired a new position in Everspin Technologies during the 4th quarter valued at $80,000. BlackRock Inc. raised its stake in Everspin Technologies by 6.5% during the 4th quarter. BlackRock Inc. now owns 195,709 shares of the business services provider’s stock valued at $1,097,000 after purchasing an additional 11,959 shares during the last quarter. Finally, Raging Capital Management LLC raised its stake in 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 valued at $8,333,000 after purchasing an additional 710,433 shares during the last quarter. Hedge funds and other institutional investors own 40.06% of the company’s stock.

About Everspin Technologies

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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