Everspin Technologies (NASDAQ:MRAM) Stock Rating Upgraded by StockNews.com

Everspin Technologies (NASDAQ:MRAM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

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

Everspin Technologies Trading Up 0.3 %

Shares of MRAM opened at $6.57 on Friday. The stock’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $6.00. The firm has a market capitalization of $144.36 million, a P/E ratio of 109.50 and a beta of 0.90. Everspin Technologies has a twelve month low of $4.89 and a twelve month high of $9.40.

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the completion of the sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at $2,438,791.10. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 23,991 shares of company stock valued at $135,839. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Everspin Technologies

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Everspin Technologies by 0.5% during the third 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 during the period. State Street Corp increased its stake in shares of Everspin Technologies by 1.5% in the 3rd 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 position in Everspin Technologies in the 3rd quarter worth about $50,000. Total Clarity Wealth Management Inc. boosted its position in 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 stake in Everspin Technologies in the second quarter valued at approximately $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.