Everspin Technologies (MRAM) Cut to “Hold” at Zacks Investment Research
Everspin Technologies (NASDAQ:MRAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Shares of Everspin Technologies stock traded down $0.06 on Wednesday, hitting $6.06. 971 shares of the company were exchanged, compared to its average volume of 43,649. The stock has a market cap of $106.32 million, a P/E ratio of -3.51 and a beta of 2.24. Everspin Technologies has a 1-year low of $5.30 and a 1-year high of $11.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.95 and a quick ratio of 2.36.
Several institutional investors have recently modified their holdings of MRAM. Bamco Inc. NY boosted its holdings in shares of Everspin Technologies by 39.6% during the 3rd quarter. Bamco Inc. NY now owns 750,000 shares of the business services provider’s stock worth $5,760,000 after purchasing an additional 212,900 shares during the last quarter. Raging Capital Management LLC raised its position in shares of Everspin Technologies by 37.7% during the 3rd quarter. Raging Capital Management LLC now owns 775,000 shares of the business services provider’s stock valued at $5,952,000 after buying an additional 211,984 shares during the period. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Everspin Technologies during the 3rd quarter valued at approximately $1,075,000. Herald Investment Management Ltd raised its position in shares of Everspin Technologies by 43.5% during the 3rd quarter. Herald Investment Management Ltd now owns 330,000 shares of the business services provider’s stock valued at $2,514,000 after buying an additional 100,000 shares during the period. Finally, Vanguard Group Inc raised its position in shares of Everspin Technologies by 23.0% during the 3rd quarter. Vanguard Group Inc now owns 440,193 shares of the business services provider’s stock valued at $3,380,000 after buying an additional 82,367 shares during the period. Institutional investors and hedge funds own 39.32% of the company’s stock.
Everspin Technologies Company Profile
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.
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