Everspin Technologies (NASDAQ:MRAM) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $(0.22)-(0.18) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.30). The company issued revenue guidance of $11.8-12.2 million, compared to the consensus revenue estimate of $11.73 million.
A number of research firms have weighed in on MRAM. Zacks Investment Research cut shares of Everspin Technologies from a hold rating to a sell rating in a report on Tuesday, August 14th. TheStreet cut shares of Everspin Technologies from a c- rating to a d rating in a report on Friday, September 7th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $14.00 price objective on shares of Everspin Technologies in a report on Thursday, August 9th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Everspin Technologies has a consensus rating of Buy and a consensus price target of $13.75.
MRAM traded up $0.06 on Friday, reaching $7.72. The stock had a trading volume of 73,170 shares, compared to its average volume of 45,098. Everspin Technologies has a 12-month low of $6.33 and a 12-month high of $11.48. The stock has a market capitalization of $121.96 million, a price-to-earnings ratio of -4.57 and a beta of 2.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.57 and a current ratio of 3.20.
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About Everspin Technologies
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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