Everspin Tech (NASDAQ:MRAM) Shares Gap Up – Still a Buy?

Everspin Tech (NASDAQ:MRAM) shares gapped up prior to trading on Thursday . The stock had previously closed at $28.94, but opened at $30.63. Everspin Tech shares last traded at $32.0940, with a volume of 976,175 shares trading hands.

Analyst Upgrades and Downgrades

MRAM has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Needham & Company LLC lifted their price target on Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen cut Everspin Tech from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Everspin Tech has a consensus rating of “Hold” and a consensus price target of $18.50.

Everspin Tech Trading Up 8.3%

The stock has a 50 day simple moving average of $15.81 and a 200 day simple moving average of $12.25. The stock has a market cap of $734.71 million, a P/E ratio of 3,154.55 and a beta of 1.75.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter. Everspin Tech had a return on equity of 4.78% and a net margin of 0.50%.The firm had revenue of $14.87 million for the quarter, compared to analyst estimates of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insiders Place Their Bets

In other news, Director Glen Hawk sold 48,563 shares of Everspin Tech stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.95, for a total value of $1,842,965.85. Following the transaction, the director owned 39,551 shares in the company, valued at approximately $1,500,960.45. This trade represents a 55.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Earl Cooper sold 11,000 shares of Everspin Tech stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $21.75, for a total value of $239,250.00. Following the completion of the transaction, the chief financial officer owned 161,030 shares in the company, valued at approximately $3,502,402.50. The trade was a 6.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 139,011 shares of company stock worth $3,947,342. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everspin Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of MRAM. Raymond James Financial Inc. bought a new stake in Everspin Tech during the 2nd quarter worth $25,000. Kestra Advisory Services LLC bought a new stake in Everspin Tech during the 4th quarter worth $41,000. Occudo Quantitative Strategies LP bought a new stake in Everspin Tech during the 2nd quarter worth $70,000. Gordian Capital Singapore Pte Ltd bought a new stake in Everspin Tech during the 3rd quarter worth $82,000. Finally, Fortitude Advisory Group L.L.C. bought a new stake in Everspin Tech during the 1st quarter worth $99,000. Institutional investors own 44.68% of the company’s stock.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.