Y Intercept Hong Kong Ltd Makes New Investment in Everspin Tech $MRAM

Y Intercept Hong Kong Ltd purchased a new position in shares of Everspin Tech (NASDAQ:MRAM) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 68,028 shares of the business services provider’s stock, valued at approximately $428,000.

A number of other institutional investors have also modified their holdings of the company. Silverberg Bernstein Capital Management LLC acquired a new position in Everspin Tech during the 2nd quarter worth about $68,000. Nuveen LLC purchased a new stake in Everspin Tech during the first quarter worth about $133,000. Total Clarity Wealth Management Inc. increased its stake in Everspin Tech by 15.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 29,267 shares of the business services provider’s stock worth $184,000 after purchasing an additional 3,954 shares during the period. Hsbc Holdings PLC lifted its position in shares of Everspin Tech by 49.4% during the first quarter. Hsbc Holdings PLC now owns 34,122 shares of the business services provider’s stock worth $173,000 after purchasing an additional 11,282 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Everspin Tech by 55.1% in the first quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock valued at $188,000 after purchasing an additional 13,086 shares during the period. 44.68% of the stock is owned by institutional investors and hedge funds.

Everspin Tech Trading Up 3.3%

Shares of NASDAQ:MRAM opened at $9.01 on Friday. Everspin Tech has a 52 week low of $4.34 and a 52 week high of $12.27. The company’s 50 day moving average is $9.22 and its two-hundred day moving average is $7.21. The company has a market cap of $205.97 million, a PE ratio of -300.33 and a beta of 0.47.

Everspin Tech (NASDAQ:MRAM) last released its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $14.06 million during the quarter, compared to analysts’ expectations of $14.00 million. Everspin Tech had a negative net margin of 1.06% and a negative return on equity of 0.89%. Everspin Tech has set its Q4 2025 guidance at 0.080-0.130 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MRAM shares. Wall Street Zen upgraded shares of Everspin Tech from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Everspin Tech in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Everspin Tech has an average rating of “Moderate Buy”.

Insider Activity

In other news, CEO Sanjeev Aggarwal sold 17,147 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $10.15, for a total value of $174,042.05. Following the transaction, the chief executive officer owned 574,757 shares in the company, valued at approximately $5,833,783.55. This represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.90% of the company’s stock.

Everspin Tech Profile

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.