Everspin Technologies Inc (NASDAQ:MRAM) has received an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price target of $15.25 for the company and are forecasting that the company will post ($0.37) EPS for the current quarter, according to Zacks. Zacks has also given Everspin Technologies an industry rank of 181 out of 265 based on the ratings given to its competitors.

Several brokerages have recently issued reports on MRAM. lowered their price target on Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, November 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target on shares of Everspin Technologies in a research report on Thursday, October 12th. Zacks Investment Research downgraded Everspin Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Canaccord Genuity lowered their price target on Everspin Technologies from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, November 17th. Finally, Needham & Company LLC lowered their price target on Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 14th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Concert Wealth Management Inc. bought a new stake in shares of Everspin Technologies in the second quarter valued at about $264,000. Wells Fargo & Company MN bought a new stake in shares of Everspin Technologies in the second quarter valued at about $322,000. B. Riley Financial Inc. bought a new stake in shares of Everspin Technologies in the second quarter valued at about $346,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Everspin Technologies in the second quarter valued at about $419,000. Finally, Stifel Financial Corp bought a new stake in shares of Everspin Technologies in the second quarter valued at about $525,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Everspin Technologies (MRAM) opened at $9.47 on Monday. The company has a quick ratio of 2.27, a current ratio of 3.04 and a debt-to-equity ratio of 0.74. The firm has a market cap of $120.90, a price-to-earnings ratio of -5.20 and a beta of 1.10. Everspin Technologies has a one year low of $6.69 and a one year high of $25.39.

Everspin Technologies (NASDAQ:MRAM) last posted its earnings results on Monday, November 13th. The business services provider reported ($0.43) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.02. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $9.90 million. Everspin Technologies had a negative net margin of 66.90% and a negative return on equity of 108.26%. Everspin Technologies’s revenue was up 31.7% compared to the same quarter last year. research analysts predict that Everspin Technologies will post -1.72 EPS for the current fiscal year.

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About Everspin Technologies

Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.

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