Zacks Investment Research lowered shares of Everspin Technologies (NASDAQ:MRAM) from a hold rating to a sell rating in a report published on Wednesday, reports.

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. “

Separately, Needham & Company LLC reiterated a buy rating and set a $5.00 price target on shares of SCYNEXIS in a research note on Sunday, May 12th.

Shares of NASDAQ:MRAM opened at $6.21 on Wednesday. The stock’s fifty day moving average is $6.68. Everspin Technologies has a 12 month low of $5.30 and a 12 month high of $11.20. The company has a current ratio of 2.55, a quick ratio of 1.84 and a debt-to-equity ratio of 0.34.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.01. Everspin Technologies had a negative net margin of 44.80% and a negative return on equity of 76.21%. The firm had revenue of $10.03 million for the quarter, compared to analyst estimates of $9.70 million. Equities analysts expect that Everspin Technologies will post -1.06 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in MRAM. D. E. Shaw & Co. Inc. acquired a new stake in Everspin Technologies during the 4th quarter worth $80,000. Bank of New York Mellon Corp purchased a new position in Everspin Technologies during the 4th quarter worth $80,000. BlackRock Inc. grew its position in Everspin Technologies by 6.5% during the 4th quarter. BlackRock Inc. now owns 195,709 shares of the business services provider’s stock worth $1,097,000 after purchasing an additional 11,959 shares during the last quarter. Finally, Raging Capital Management LLC grew its position in Everspin Technologies by 91.7% during the 4th quarter. Raging Capital Management LLC now owns 1,485,433 shares of the business services provider’s stock worth $8,333,000 after purchasing an additional 710,433 shares during the last quarter. Hedge funds and other institutional investors own 40.06% of the company’s stock.

About Everspin Technologies

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.

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