Everspin Tech (MRAM) Earns Coverage Optimism Rating of 0.11
News coverage about Everspin Tech (NASDAQ:MRAM) has trended somewhat positive this week, according to Accern Sentiment Analysis. Accern ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Everspin Tech earned a news impact score of 0.11 on Accern’s scale. Accern also gave press coverage about the business services provider an impact score of 45.0249968864223 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
A number of research analysts have recently issued reports on MRAM shares. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target (up from $12.00) on shares of Everspin Tech in a report on Monday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price target (down from $19.00) on shares of Everspin Tech in a report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Everspin Tech in a report on Monday, June 12th. Finally, Zacks Investment Research downgraded Everspin Tech from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Everspin Tech currently has an average rating of “Buy” and an average price target of $18.50.
Everspin Tech (NASDAQ MRAM) traded down 12.79% on Friday, reaching $13.37. The company’s stock had a trading volume of 529,936 shares. Everspin Tech has a 1-year low of $6.15 and a 1-year high of $19.25. The company’s market capitalization is $169.45 million. The firm’s 50 day moving average price is $16.36 and its 200-day moving average price is $16.36.
Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.02). The firm had revenue of $8.93 million for the quarter, compared to the consensus estimate of $8.75 million. Equities analysts forecast that Everspin Tech will post ($1.73) earnings per share for the current year.
Everspin Tech Company Profile
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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